Assume a monopoly market with a demand curve of Q(p) = 10 - p and marginal...

  

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Assume a monopoly market with a demand curve of Q(p) = 10 - p and marginal cost, which are constant at 4. a) What is the profit-maximizing monopoly price and output? Illustrate your answer in a graph! b) What is the price elasticity at the monopoly price and output? c) What are the effects if a social planer regulates the price? Assume a monopoly market with a demand curve of Q(p) = 10 - p and marginal cost, which are constant at 4. a) What is the profit-maximizing monopoly price and output? Illustrate your answer in a graph! b) What is the price elasticity at the monopoly price and output? c) What are the effects if a social planer regulates the price?