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The market demand function is given the following equation: F = 2000 Q where Q is the industry's output level. Suppose initially this market is
The market demand function is given the following equation: F = 2000 Q where Q is the industry's output level. Suppose initially this market is served by a single rm. Let the total cost function of this firm be given the function ClQl = 200Q. The rm's marginal cost of production {MC} is equal to the rm's average cost {AC}: MC =AC = 200. What is the equilibrium output level produced by the prot-maximizing monopoly rm in this industry
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