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Assignment
The following graph shows the decision making process, faced by a monopolist. Please answer the following questions based on this graph. See the instruction video "Monopolist_Profit Maximizing Rule.ppsm".
A. What is the profit-maximizing level of price and quantity, faced by this monopolist?B. What is the total cost (TC), and total revenue (TR) at the profit- maximizing level of price and quantity?C. What is the total profit?D. What are the primary sources of power for this type of firm? Answer this using at least 100 words. You will be marked down up to 3 points for not meeting this requirement.
Instructions:
• Explain each question using at least 50 words (A-C), and you will be marked down up to 2 points for not meeting this requirement for each question.
• You will be marked down up to 3 points for providing inaccurate calculation for each question
• You will be marked down up to 5 points for not showing mathematical steps in detail in each question
• You will be marked down up to 2 points for not meeting the minimum words requirement in part D.
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