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A firm is a monopoly with demand and cost functions given by P = 200 - 2Q and C(Q) = 2,000 + 3Q2 respectively. Show your computations.
a. Show the equations for MR and MC.
b. Compute the profit maximizing quantity.
c. What is the price at the profit maximizing quantity?
d. Compute total revenue.
e. Compute total cost.
f. What are the profits?
Write your individual answers to the questions listed above together using a minimum of 300 words in essay format in APA style. use APA template in Doc Sharing, using correct economic terms covered in the discussions.
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