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Suppose that market demand for a good is Q = 480 - 2p. The marginal cost is MC = 2Q. Calculate the following in the

Suppose that market demand for a good is Q = 480 - 2p. The marginal cost is MC = 2Q. Calculate the following in the context of a monopoly market.

a)Profit maximizing price and quantity.

b)Market power.

c)Consumer surplus and producer surplus.

d)Dead Weight Loss (DWL).

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