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The following table gives information on the price, quantity, and total cost of production for a monopolist. Price Output Tota l Costs $5 0 $3
The following table gives information on the price, quantity, and total cost of production for a monopolist.
| Price | Output | Total Costs |
| $5 | 0 | $3 |
| $4 | 5 | $8 |
| $3 | 10 | $18 |
| $2 | 15 | $33 |
| $1 | 20 | $53 |
| $0 | 25 | $78 |
- If the monopolist maximizes profits, what is the price that it will charge?
- How much profit will the monopolist earn at the profit-maximizing price?
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Lectures On Urban Economics
Authors: Jan K Brueckner
1st Edition
0262300311, 9780262300315
