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I just need question A at the bottom answered 2. Assume that the short-run cost and demand data given in the table below confronts a

I just need question A at the bottom answered

2. Assume that the short-run cost and demand data given in the table below confronts a monopolistic competitor selling a given product and engaged in a given amount of product promotion. Compare the marginal cost and marginal revenue of each unit of output and enter these figures in the table.

Output

Total cost Marginal cost Quantity demanded

Price

Marginal revenue

Profit

0 $ 50 XXXX 0 $60 XXXXX $
1 80 $ 30 1 55 55 -25
2 120 40 2 50 45 -20
3 150 30 3 45 35 -15
4 170 20 4 40 25 -10
5 185 15 5 35 15 -10
6 205 20 6 30 5 -25
7 235 30 7 25 -5 -60
8 275 40 8 20 -15 -115
9 325 50 9 15 -25 -190
10 385 60 10 10 -35 -285

(a) At what output level and at what price will the firm produce in the short run? What will be the total profit?

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