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Calculate the equilibrium price and quantity

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Reference no: EM13325994

The market demand function for a product sold by a monopolist is given below:

QD = 120 - 4P

The monopolist's marginal cost function is given below:

MC = 1.5Q

a) Find MR.

b) Where do demand and MR intersect the quantity axis?

c) Calculate the equilibrium price and quantity.

Reference no: EM13325994

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