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What is the profit-maximizing output for the monopolist

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Reference no: EM13333092

Consider a monopolist withe total cost function

TC(Q)=Q2/2+10Q+20

facing the market demand equation Q=70-P

a)What is the profit-maximizing output for the monopolist? Calculate its profit.

b) What is the socially optimal output and price for this firm?

Reference no: EM13333092

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