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A risk-neutral monopoly must set output before it knows the market price. There is a 40 percent chance the firm's demand curve will be P

A risk-neutral monopoly must set output before it knows the market price. There is a 40 percent chance the firm's demand curve will be P = 40 2Q and a 60 percent chance it will be P = 80 2Q. The marginal cost of the firm is MC = 4. The expected profit-maximizing price is

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$14.

$20.

$32.

$34.

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