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5. Refer to the following exhibit where the demand schedule and cost schedule for a monopolist are provided. Which output level maximizes profit? (10 points)

5. Refer to the following exhibit where the demand schedule and cost schedule for a monopolist are provided. Which output level maximizes profit? (10 points) Price Quantity TR MR TC Profit $10 10 10 4 to 8 12 16 20 24 28 32 9 36 10 40

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