Determine the optimal price-quantity and economic profit

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Reference no: EM131239185

A firm has a demand function P = 200 – 5Q and a cost function: AC=MC=10

a. What price, quantity, and corresponding profit occur if this a purely competitive market?

b. Determine the optimal price, quantity and economic profit for the firm if it is a pure monopolist.

Reference no: EM131239185

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