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A pharma company was granted the monopoly of a drug by means of a patent. Market demand in a given year is = 9 − where is quantity in hundreds thousand pills and the price in dollars. The marginal cost of producing a pill is independent of output and equal to $1 a. (25 pts) What is the monopoly price and production in a year.
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A pharma company was granted the monopoly of a drug by means of a patent. Market demand in a given y...
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