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Popular holiday gifts among kids these days

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Reference no: EM131772023

Captain avenger backpacks are the most popular holiday gifts among kids these days. the backpacks are produced by a profit maximizing monopolist. the marginal cost of producing the Qth backpack is $3Q. There are no fixed costs. Demand for the backpack is given by P=1000 - Qd. Now suppose the gov passes a law setting the price of a backpack at $750. What is the quanity the monopolist will choose to maximize profits.

Reference no: EM131772023

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