Problem
Suppose P = 20 - 2Q is the market demand function for a local monopoly. The marginal costis 2Q. The local monopoly tries to maximize its profits by equating MC = MR and charging auniform price. What will be the marginal revenue?
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.