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Answer to Question #265981 in Microeconomics for Bright Charwetey
Question #265981
Youarethemanagerofamonopoly.Atypicalconsumer’sinversedemandfunctionfor your firm’s product is 𝑃 = 250 − 4𝑄 and your cost function is 𝐶(𝑄) = 10𝑄
Expert's answer
"MR = MC Hence, 250-8Q = 10"
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