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2. Global Gas & Electric, a monopoly operating in the northwest Philippines, is represented in the table below. Global's executives would not provide you any
2. Global Gas & Electric, a monopoly operating in the northwest Philippines, is represented in the table below. Global's executives would not provide you any more information than what's in this table, so you'll have to fill in the blanks. (The output is measured in thousands of kilowatt hours of electricity.) Output Price TR MR TC ATC MC Profit 110 90 144 29 -3 42 56.75 89 55 -23.5 10 90 A. Fill in the table (14 points) and use it to answer the following questions. B. Using the MR = MC rule, what is the profit-maximizing level of output (in thousands of KWHs)? [2 points) C. What price will Global Gas & Electric charge for the profit-maximizing level of output? (2 points)
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