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Suppose we have a monopolist with the following: D: Q=40-.5P C: TC=50+10Q What is the marginal...

Suppose we have a monopolist with the following:

D: Q=40-.5P

C: TC=50+10Q

What is the marginal cost?

What is the revenue function?

What is the marginal revenue?

What is the profit function (as a function of Q)?

What quantity maximizes the monopolists profit?

What price will the product be sold at?

What is the socially efficient quantity?

What is the socially efficient price?

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