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Musician faces a monopolistic market

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Reference no: EM131253959

Exercise 1: An amateur musician selling music albums distributedby mp3-files over the internet, faces the following demand curve:

P(Q) = 20 - Q

Assuming that the musician faces a monopolistic market (and wouldlike to maximise profits), how many music albums should he sell and atwhat price? Provide a mathematical solutions.

Reference no: EM131253959

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