Question: 4. A monopolist is faced with the inverse demand function P(Q) denoting the price when output is Q. The monopolist has a constant average cost

4. A monopolist is faced with the inverse demand function P(Q) denoting the price when output is Q. The monopolist has a constant average cost k per unit produced. (a) Find the profit function (Q), and prove that the FOC for maximal profit at Q>0 is P(Q)+QP(Q)=k

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