Graph this cost and demand structure

Reference no: EM131072221

An industry that is characterized by a decreasing cost structure has a demand curve given by P = 100 - Q and the marginal revenue curve by MR = 100 - 2Q. The marginal cost is MC = 4, and average cost is AC = 4+188/Q.

(a) Graph this cost and demand structure.

(b) Calculate the efficient output and the monopoly output for the industry.

Reference no: EM131072221

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