Answer the question on the basis of the following demand and cost data for a specific firm. (1) Price $ 11.50 11.00 (3) Quantity 6 7 Demand Data (2) Price $ 10.00 8.85 8.00 7.00 6.10 5.00 Cost Data Output Total Cost 6 $ 61 7 62 8 64 9 67 10 72 10.50 8 9 10 10.00 9.60 9.10 8.30 11 11 79 4.15 12 12 86 If columns (1) and (3) of the demand data shown are this firm's demand schedule, economic profit will be Multiple Choice $23. $21.1. $72 $24 Answer the question on the basis of the following demand and cost data for a specific firm. (1) Price $ 11.50 11.00 (3) Quantity 6 7 Demand Data (2) Price $ 10.00 8.85 8.00 7.00 6.10 5.00 Cost Data Output Total Cost 6 $ 61 7 62 8 64 9 67 10 72 10.50 8 9 10 10.00 9.60 9.10 8.30 11 11 79 4.15 12 12 86 If columns (1) and (3) of the demand data shown are this firm's demand schedule, economic profit will be Multiple Choice $23. $21.1. $72 $24