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Price and quantity to yield the efficient solution

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A monopolist is facing the following demand schedule P=24-3Q. That is, Q=0 implies P=24, then Q=1 implies P=21, and Q=2 implies P=18, and so one. Fixed costs will be neglected in this analysis. The marginal cost is constant and equal to 6 for every unit produced. Determine:

Price and quantity to yield the efficient solution.

Reference no: EM132357271

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