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A publisher faces the following demand schedule for the next novel from one of its popular authors: Price (Dollars) Quantity Demanded (Copies) 40 0
A publisher faces the following demand schedule for the next novel from one of its popular authors: Price (Dollars) Quantity Demanded" (Copies) 40 0 36 50,000 32 100,000 28 150,000 24 200,000 20 250,000 16 300,000 53 12 350,000 8 400,000 T 450,000 0 500,000 The author is paid $800,000 to write the novel, and the marginal cost of publishing the novel is a constant $4 per copy. Complete the second, fourth, and fifth columns of the following table by computing total revenue, total cost, and profit at each quantity. Quantity (Coples) Total Revenue (Dollars) Marginal Revenue (Dollars) Total Cost (Dollars) Profit (Dollars)
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