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Q12] A monopolist faces the following demand function: Q = EDD 2P. The total cost function is given as: To = 21:22. (3+1+1=5) What is

Q12] A monopolist faces the following demand function: Q = EDD 2P. The total cost function is given as: To = 21:22. (3+1+1=5) What is the prot maximizing level of output and price charged by the monopolist? How much prot is the monopolist earning?I At the equilibrium, calculate the lllply power. \"More the demand curve is elastic= more is the monopoly power\". Is this statement true? Give reasons in one sentence

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