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Q-2 In Table 14-1, explain why 4 is the profit-maximizing output. Q-3 In the graph below, indicate the monopolist's profit-maximizing level of output and the

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Q-2 In Table 14-1, explain why 4 is the profit-maximizing output. Q-3 In the graph below, indicate the monopolist's profit-maximizing level of output and the price it would charge. Marginal cost Price Demand Quantity Q-4 Why does a monopolist produce less output than would perfectly competitive firms in the same industry

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