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The graph below shows the demand curve (D), marginal revenue curve (MR), marginal cost curve (MC), average total cost curve (ATC), and long-run average total
The graph below shows the demand curve (D), marginal revenue curve (MR), marginal cost curve (MC), average total cost curve (ATC), and long-run average total cost curve (LRATC) for a monopolist. PRICE $60 $50 $40 $35 $30 $20 MC = ATC = LRATC $10 D 4 56 8 10 12 QUANTITY MR (a) Using the numbers given in the graph, identify each of the following for the profit- maximizing monopolist. (i) The quantity produced (ii) The price (iii) The allocationy efficient quantity
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