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Please include step by step process for solution. QUESTION 19 Suppose that p= 100- Q, MR=100-20, TC=1125+ 02, and MC=20 . Suppose the government wants
Please include step by step process for solution.
QUESTION 19 Suppose that p= 100- Q, MR=100-20, TC=1125+ 02, and MC=20 . Suppose the government wants to eliminate the deadweight loss as much as possible by requiring the monopoly to charge a specific price. What price could be set in order that the monopoly produces as close as possible to the efficient (welfare maximizing) output while still ensuring that the monopoly is not driven out of business? What is the associated quantity produced and profit? O Price=66.7, Quantity=33.3, Profit=-13 O Price=67.1 , Quantity=32.9, Profit=0 O Price=67.1, Quantity=32.9, Profit=-10 O Price=66.7, Quantity=33.3, Profit=33Step by Step Solution
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