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Homework Assignment Assume a monopolist faces a market demand curve P = 100 - 20 and has the short-run total cost function C = 640

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Homework Assignment

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Assume a monopolist faces a market demand curve P = 100 - 20 and has the short-run total cost function C = 640 + 200. What is the profit-maximizing level of output? What are profits? Graph the marginal revenue, marginal cost and demand curves, and show the area that represents deadweight loss on the graph

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