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Use the following information to answer the next TWO questions: Suppose market demand facing a monopolist is given by Q=(24-P)/6. 4.If in the short-run the

Use the following information to answer the next TWO questions:

Suppose market demand facing a monopolist is given by Q=(24-P)/6.

4.If in the short-run the price that maximizes the monopolist's profit is the same as the price that maximizes the monopolist's total revenue, which of the following could be the monopolist's short-run total cost function?

A.TC=10+2Q2+5Q

B.TC=5Q

C.TC=Q2+Q3

D.TC=40+2Q

E.TC=20

5.If average cost pricing regulation produces an economically efficient level of output, which of the following could be the monopolist's total cost curve?

A.TC=30+5Q

B.TC=3Q2

C.TC=100Q-5Q2 +3Q3

D.TC=50Q

E.TC=75

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