Question: Consider a monopolist with the (inverse) demand function: Pb = 372 - 8 Qb. Given an increasing marginal cost: mc = 69 + 7 Q,

Consider a monopolist with the (inverse) demand function: Pb = 372 - 8 Qb. Given an increasing marginal cost: mc = 69 + 7 Q, how much profit does the monopolist earn ? (Assume fixed costs = 68 .)

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