Question: 19. (4 marks) Given: Demand; P = 1,000 - 10 Q and the monopolist's costs: TC = 10,000 + 50 Q MC = 50 a)

19. (4 marks) Given: Demand; P = 1,000 - 10 Q and the monopolist's costs: TC = 10,000 + 50 Q MC = 50 a) (2 marks) Find revenue and prot for the monopoly outcome. b) (2 marks) Find revenue and prot if the government imposes the competitive outcome

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