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11. Consider Table 2, which shows the environment faced by a monopolist. Table 2: Market Environment Output Total Revenue| Variable Costs $50 $30 $80 $60

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11. Consider Table 2, which shows the environment faced by a monopolist. Table 2: Market Environment Output Total Revenue| Variable Costs $50 $30 $80 $60 $90 $90 $80 $120 $50 $150 $20 $180 $10 $210 What price will this firm charge in order to maximize profits? (a) $40 (b) $30 (c) $20 (d) $10

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