The Buy n Large Corporation (BnL) is a monopolist in a market with the demand function: Qd = 320 − 4p BnL’s marginal cost function is: MC = 20/Q + 4 and its average total cost function is: ATC = 240/Q + 20 + Q/8 (a) Based on the demand function given, determine BnL’s inverse demand function and marginal revenue function. (b) Algebraically determine BnL’s profit-maximizing quantity and price. (c) Determine the profit made by BnL

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