Principles of Macroeconomics

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Econ 101: Principles of Microeconomics NAME: Korinna K. Hansen Disc. Section: Practice Quiz 9 Suppose that the price at which a monopolist can sell its product is P = 10 - Q, where Q is the number of units sold per period. The monopolist’s marginal cost equals his average total cost,
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Unformatted text preview: and MC = ATC = $4. a). Graph the demand curve. b). Graph total revenue for output levels from 0 to 10 units. c). Graph the marginal revenue at each output level. d). Which output level maximizes profit? e). How high is the maximum profit?...
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