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Suppose a pure monopolist faces the demand equation of P = 100 - Q. MC = Q + 40. Solve for Total Revenue. Solve for

Suppose a pure monopolist faces the demand equation of P = 100 - Q. MC = Q + 40.

  1. Solve for Total Revenue.
  2. Solve for Marginal Revenue.
  3. Find the profit-maximizing quantity.
  4. Find the profit-maximizing price .
  5. Suppose Average Total Cost is $90. How much is the profit/loss?
  6. Calculate consumer surplus and producer surplus.

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