Suppose market demand facing a monopolist is given by 
.Then the monopolist's marginal revenue curve (in the absence of price discrimination) is
Definitions:
Output
The total quantity of goods or services produced by an individual, firm, or country over a specified period.
Perfect Competition
A market structure characterized by a large number of small firms, identical products, and free entry and exit, leading to price takers.
Price Takers
Entities in a market that accept the prevailing prices because they do not have enough market power to influence prices themselves.
Product Differentiation
A business tactic employed to differentiate their product in the market from those that are similar.
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