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Determine the profit maximizing output

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Reference no: EM132489504

A monopolist faces the following demand and cost schedules:

price Quantity TR MR TC ATC MC profit

110 0 100

100 1 150

90 2 190

80 3 220

70 4 260

60 5 310

50 6 370

40 7 450

Determine the profit maximizing output, price and profit level. What causes Monopoly? Basically , perfectly competitive firms and monopolists use the same rule to determine the profit maximizing output. True or false? Explain. How does the monopoly firm determine the price it will charge in the market?

Reference no: EM132489504

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