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Sam's Rare Roses is a single-price monopoly. The table shows the demand schedule for Sam's Rare Roses (columns 1 and 2) and the firm's total
Sam's Rare Roses is a single-price monopoly. The table shows the demand schedule for Sam's Rare Roses (columns 1 and 2) and the firm's total cost schedule (columns 2 and 3). Suppose Sam's rent goes up by $7 an hour. What is Sam's new profit-maximizing output, price, and economic profit? G When Sam's produces its new profit-maximizing output, the number of rosebushes it produces is D an hour. Price (dollars per bush) 12 1" 10 9 8 7 Quantity (bushes per hour) 0 [ I & R N Total cost (dollars per hour) 1 6 13 22 33 46
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