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The following table shows the different quantities sold by a monopolist at different prices. Quantity (units) Price ($) 1,000 14 1,350 12 1,700 10 2,100

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The following table shows the different quantities sold by a monopolist at different prices. Quantity (units) Price ($) 1,000 14 1,350 12 1,700 10 2,100 8 2,650 6 3,000 3,300 2 a) Calculate the total revenue and marginal revenue of the monopolist at the different quantities. b) If the monopolist faces a constant marginal cost of $2.29, what is the optimal output it should produce? Edit View Insert Format Tools Table 12pt Paragraph B I U A BV TV 2 V B V V

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