Where q indicates the number of copies sold and p is the, Business Economics

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Where q indicates the number of copies sold and p is the

Based on market research, a film production company obtains the following information about the demand and production costs of its new DVD:

Demand: P = 1,000 -10Q

Total Revenue: TR =1,000Q 10Q^2

Marginal Revenue: MR =1,000- 20Q

Marginal Cost: MC=100 10Q

Where Q indicates the number of copies sold and P is the price in dollars. a. Find the price and quantity that maximizes the company’s profit. b. Find the price and quantity that would maximize social welfare (the competitive equilibrium). c. Calculate the deadweight loss from monopoly.

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Business Economics: Where q indicates the number of copies sold and p is the

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