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Consider a monopolist with a total cost of TC=24+2Q and marginal cost of $2 (MC-2). The monopolist faces a demand curve of P=16-Q. 1.

Consider a monopolist with a total cost of TC=24+2Q and marginal cost of $2 (MC-2). The monopolist faces a demand curve of P=16-Q. 1. 2. Graph the monopolist. Find price and quantity that the monopolist charges. 3. Find the profit and consumer surplus. 4. Find the deadweight loss to welfare.

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