A firm has a demand function p 200 ndash 5q and a cost, Business Economics

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A firm has a demand function p 200 ndash 5q and a cost

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.

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Business Economics: A firm has a demand function p 200 ndash 5q and a cost

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