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Where do demand and mr intersect the quantity axis

The market demand function for a product sold by a monopolist is given below:

QD = 120 - 4P

The monopolist's marginal cost function is given below:

MC = 1.5Q

a) Find MR.

b) Where do demand and MR intersect the quantity axis?

c) Calculate the equilibrium price and quantity.

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Solution Preview :

Prepared by a verified Expert

Macroeconomics: Where do demand and mr intersect the quantity axis

Reference No:- TGS0664661

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Macroeconomics: Where do demand and mr intersect the quantity axis

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