Solved: What monopolists optimal markup of price above marginal cost, Microeconomics

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What monopolists optimal markup of price above marginal cost

Problem

1. Suppose a monopolist has the demand function Q = 1,000P^-3 . What is the monopolist's optimal markup of price above marginal cost?

2. Suppose a monopolist has an inverse demand function given by P = 100Q^-1/2. What is the monopolist's optimal markup of price above marginal cost?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What monopolists optimal markup of price above marginal cost

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