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LC has quit her job and become a writer. Her publisher faces the following demand schedule for her new book, Mehindi: The Diary of a

LC has quit her job and become a writer. Her publisher faces the following demand schedule for her new book, "Mehindi: The Diary of a Labrador." She has a huge fan following and there are no substitutes for her books. She receives an upfront $100 to write the book, and the marginal cost of publishing the book is constant at $10 per book. Price........Quantity..........Total Cost$100........0....................$100$90..........1....................$110$80..........2....................$120$70..........3....................$130$60..........4....................$140$50..........5....................$150$40..........6....................$160$30..........7....................$170$20..........8....................$180$10..........9....................$190$0...........10...................$200Suppose the publisher was not a profit-maximizing firm but was concerned with maximizing economic efficiency i.e., total surplus. What price would it charge for the book? (Hint: what would be the perfectly competitive price in this market?)

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