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The inverse demand function for good X is P = 5−0.05Q. The firm’s cost curve is...

The inverse demand function for good X is P = 5−0.05Q. The firm’s cost curve is TC(Q) = 10+Q

(1.7) (2 points) What is the value of total surplus?

Suppose that there a monopolist firm in this industry who employs single-pricing strategy.

(1.8) (2 points) What is the firm’s marginal revenue curve?

(1.9) (2 points) What is the profit maximizing level of output?

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