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/444360/quizzes/1099511/take 1 pts Question 12 Suppose Thomas's Magical, Mystical, Medicinal (Indoor) Wheat company is a monopoly. Thomas's marginal cost is $35, his price is $40, and his average total cost is $35. Thomas is maximizing his profit and is making an economic profit. is not maximizing his profit but is making an economic profit anyway. might be maximizing his profit and is making a normal profit. O might be maximizing his profit and is making an economic profit. None of the above answers are correct. Question 13 1 pts Because of the Russian invasion of the Ukraine, if the price of a gallon of gasoline increases by 10 percent and the quantity of gasoline demanded falls by 4 percent, the price elasticity of demand is and the total revenue collected by gasoline producers O 10.0; increases O 4.0; decreases O 0.4; increases O 4.0; increases O None of the above answers are correct