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Profit maximizing monopolist has the average cost function AC = 4+5/Q. Demand in this market is given by the equation AD=1--P2. This monopolist will set
Profit maximizing monopolist has the average cost function AC = 4+5/Q. Demand in this market is given by the equation AD=1--P2. This monopolist will set a price of:
a) $2
b) $6
c) $8
d) $12
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Using Excel For Principles Of Econometrics
Authors: R Carter Hill, Genevieve Briand
4th Edition
1118032101, 9781118032107
