Firm E is a monopolist that faces a market with inverse demand given by: P = 59-2Q Where Q is Firm E's output level. Fir

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Firm E Is A Monopolist That Faces A Market With Inverse Demand Given By P 59 2q Where Q Is Firm E S Output Level Fir 1 (30.8 KiB) Viewed 40 times

Firm E is a monopolist that faces a market with inverse demand given by: P = 59-2Q Where Q is Firm E's output level. Firm E's total cost function is given by: TC(Q) = 13Q + 38 How much profit is Firm E earning when maximizing profits? Assume Firm E cannot price discriminate. (Note: The answer may not be a whole number, so round to the nearest hundredth) (Hint 1: MR = 59-2*2*Q) (Hint 2: MC = 13) (Hint 3: Once you find Q", then find P*, use this information to find profit)