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Table: Spring Water Quantity (Cases) Price Total Revenue Marginal Revenue Marginal Cost Average Total Cost Total Cost 0 $16 $0 $25 $15 $10 1 $15
Table: Spring Water Quantity (Cases) Price Total Revenue Marginal Revenue Marginal Cost Average Total Cost Total Cost 0 $16 $0 $25 $15 $10 1 $15 $15 35.00 $35 $13 $6 2 $14 $28 20.50 $41 $11 $4 3 $13 $39 15.00 $45 $9 $2 4 $12 $48 11.75 $47 $7 $3 5 $11 $55 10.00 $50 $5 $3 6 $10 $60 8.83 $53 $3 $5 7 $9 $63 8.29 $58 $1 $9 8 $8 $64 8.38 $67 Reference: Ref 15-12 Table: Spring Water Table: Spring Water. The table shows the demand and cost data for a firm in a monopolistically competitive industry producing drinking water from underground springs. The profit-maximizing price is: Question 2 options: $3. $10. $5. $16
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