Find profit maximizing output and price

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Reference no: EM13983939

Tad's bait shop has a monopoly in the bait market. Demand is given by q=56-8p and mc=0.25q

A) find profit maximizing output and price

B) find the level of consumer surplus that accompanies tad's profit max choice of output and price

C) determine what consumer surplus would be in a competitive equilibrium

Reference no: EM13983939

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