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Given That a Minor League Baseball Monopolist Faces a Market

Question 10

Essay

Given that a minor league baseball monopolist faces a market demand function of Qd =12 - P
(a) Write down this monopolist's demand and MR equations.
(b) If the monopolist faces a constant marginal cost of $3 per unit, how many units will she produce?

Correct Answer:

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(a) Demand equation: P = 12 - Qd

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