Question: Suppose that a monopolist faces an inverse demand function P (Q) = 300-10q, Marginal cost is equal to 5, a) Setup the monopolist's profit function

Suppose that a monopolist faces an inverse demand function P (Q) = 300-10q, Marginal cost is equal to 5,

a) Setup the monopolist's profit function

b) If the marginal revenue function is 300-20q, then solve for optimal quantity.

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