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Monopoly maximizes profit by setting mr

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Suppose a monopoly faces demand given by P = 24 - Q and has a cost function given by C = 10 + 4Q. (Revenue, R = PQ = (24 - OJQ. ) The monopoly maximizes profit by setting MR = MC. Which of the following statements is true.

a) At the monopoly solution P = 14 and MR = 4.

b) At the monopoly solution consumer surplus is 50.

c) At the monopoly solution profits equal 90.

d) All of the above.

e) None of the above.

Reference no: EM133079069

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