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Suppose that the Jersey club, a local monopoly, is currenlty selling its profit maximizing quantity of 100 salads for 7.5. The marginal cost of a
Suppose that the Jersey club, a local monopoly, is currenlty selling its profit maximizing quantity of 100 salads for 7.5. The marginal cost of a salad is equal to average total cost and is $3. The demand for salads is given by Qd=240-20P. What are the monopolistic profits?
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