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A monopolist's Demand, MR and MC curves are as follows:
Demand: P=56-.25 QMR: MR = 56-.5 QMC: MC = $30
a. Find the profit maximizing price and quantity.
b. Assume that ATC = $35 at the profit maximizing quantity. Calculate the monopolist's total profit.
were chosen at random, and the traffic lights of those intersections were modified. The numbers of minor accidents during a six-month period before and after the modifications were: NUMBER OF ACCIDENTS
If this was a competitive industry, the resulting quantity would be where P = MC. Solve for the competitive quantity (Q C) and price (P C). Hint: set P = MC to solve for Q, then plug Q into either P or MC equation.
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