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All answers are integers.No units or dollar signs. If you find yourself torn between two possible quantities, pick the larger one..... Consider a monopolist facing

All answers are integers.No units or dollar signs. If you find yourself torn between two possible quantities, pick the larger one.....

Consider a monopolist facing the following demand curve.

Price:12, 11, 10, 9, 8, 7, 6, 5, 4, 3

Quantity Demanded:1, 2, 3, 4, 5, 6, 7, 8, 9, 10

Also assume that this firm has a constant marginal cost of $6 per unit.

Fill in the blanks

1. This monopolist will set the price equal to ___??____and quantity equal to____??___.They will have a profit of ______??_____.

2. The efficient quantity is_____??______.

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