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The following table shows the demand curve facing a monopolist who produces at a constant marginal cost of $10.00: Price Quantity 14 16 18 Calculate
The following table shows the demand curve facing a monopolist who produces at a constant marginal cost of $10.00: Price Quantity 14 16 18 Calculate the firm's marginal revenue curve. The firm's marginal revenue (MR) curve is O A. MR = 10 - 0.50Q. O B. MR = 18 -0.25Q. O C. MR = 10 - 1.00Q. D. MR =18 -2.00Q. O E. MR =18 -1.00Q. What are the firm's profit-maximizing output and price? The firm's profit-maximizing output is 4 units. (Enter your response rounded to two decimal places.) The corresponding price is $ 14 . (Enter your response rounded to two decimal places.) What is the firm's profit? Profit equals $ 16.00 . (Enter your response rounded to two decimal places.) What would the equilibrium price and quantity be in a competitive industry? The competitive price would be $ 10 . (Enter your response rounded to two decimal places.) The competitive quantity would be 8 units. (Enter your response rounded to two decimal places.) What would the social gain be if this monopolist were forced to produce and price at the competitive equilibrium? The social gain would be equal to $ . (Enter your response rounded to two decimal places.)
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