Suppose P=20-2Q is the market demand function for a local monopoly. The marginal cost is 2Q. The

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Suppose P=20-2Q is the market demand function for a local monopoly. The marginal cost is 2Q. The local monopoly tries to maximize its profits by equating MC= MR and charging a uniform price. What will be the equilibrium price and output?

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Microeconomics

ISBN: 978-0073375854

2nd edition

Authors: Douglas Bernheim, Michael Whinston

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Posted Date: Jun 21, 2022 07:51 AM

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Suppose P=20-2Q is the market demand function for a local monopoly. The marginal cost is 2Q. The

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