A risk neutral monopoly must set output before it know
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A risk neutral monopoly must set output before it knows for sure the market price. There is a 50% chance the firm's de
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A risk neutral monopoly must set output before it knows for sure the market price. There is a 50% chance the firm's demand curve will be P = 20 - Q and a 50% chance it will be P = 40 - Q. The marginal cost of the firm is MC = Q. The expected profit-maximizing quantity is:
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