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Please explain step process (3 points) Market demand is Qd = ap- > 1. The market is served by a monopoly such that TC (q)

Please explain step process

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(3 points) Market demand is Qd = ap- > 1. The market is served by a monopoly such that TC (q) = cq, c > 0. (a) Set up the monopoly's maximization problem. (1 point) (b) Find {qM, p }. (2 points)

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