Profit-maximizing price-quantity combination for monopolist

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Reference no: EM13982105

A monopolist can produce at constant average and marginal costs of AC = MC = 5. The firm faces a market demand curve given by Q = 53 —P. The monopolist's marginal revenue curve is given by MR = 53 - 2Q.

a. Calculate the profit-maximizing price-quantity combination for the monopolist. Also calculate the monopolist's profits and consumer surplus.

Reference no: EM13982105

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