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Hot Air Balloon Rides is a single-price monopoly. Columns 1 and 2 of the table set out the market demand Price Quantity Total cost schedule
Hot Air Balloon Rides is a single-price monopoly. Columns 1 and 2 of the table set out the market demand Price Quantity Total cost schedule and columns 2 and 3 set out the total cost (dollars (rides (dollars per per ride) per month) month) schedule 250 20 Calculate Hot Air's profit-maximizing output and price. Calculate the economic profit. 230 100 210 200 190 320 170 460 150 620 Hot Air's profit-maximizing number of rides is a month and the profit-maximizing price is $ a ride. > >> Answer to 1 decimal place. When Hot Air produces the profit-maximizing output and charges the profit-maximizing price, the firm of $ > > If the firm incurs an economic loss, select economic loss in the dropdown box and do not enter a minus sign
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