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The following functions apply to a monopoly: TC = 750 + 6Q+ 0.06Q2 MC 6+0.12Q Demand: P=104 -0.14Q MR 104 0.28Q The monopolist chooses
The following functions apply to a monopoly: TC = 750 + 6Q+ 0.06Q2 MC 6+0.12Q Demand: P=104 -0.14Q MR 104 0.28Q The monopolist chooses their profit maximizing quantity. Calculate their PROFIT. Hint: remember Profit = TR-TC or Profit = (P-ATC)(Q)
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