Find the profit-maximizing quantity and price

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Reference no: EM13979149

A market (or industry) demand curve is described by Q = 600 – 0.5 P The monopolist firm’s cost function is TC = 7,550 + 16Q

a. Find the profit-maximizing quantity and price.

b. If the monopoly is dissolved and then the market becomes perfectly competitive, how much more quantity will be produced?

Reference no: EM13979149

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