elopezhilario521 elopezhilario521

05-06-2023
Business

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A Monopolist has the following demand, marginal revenue, and marginal cost: p=11−2.5q
mr=11−5q
mc=1

Solve for the monopolist's profit maximizing price and quantity 2 . Solve for the perfectly competitive price and quantity 3. Is the monopoly solution preferred to the perfectly competitive solution? Why?

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