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1. A monopolist faces the industry demand Q=400-0.5 p and has constant marginal costs of 8, with no fixed costs.
a) What is the monopoly price? What is the monopoly quantity?
b) Without solving mathematically, just using economic theory based on the solution in a), if price drops such that quantity increases from the one in a), by one very small amount, would total revenue be higher?
Ask quethe monthly revenue of a certain comany is given by R=820p-7^2p,where p is the price in dollars of the product the company manufacturers. at what price will the revenue be $
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