Calculate the price and quantity for the monopolist

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Reference no: EM13191855

Demand: Qd = 140 - 7P, which means the inverse demand curve is P = 20 - (1/7)Qd
MC = .4Q

Treating the marginal cost curve as the "supply curve" and using the given demand curve, what price and quantity would a competitive market give? Now, calculate the price and quantity for the monopolist.

Reference no: EM13191855

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