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Traci's Hairstyling is one salon among many in the monopolistically competitive market for hairstyling The following table presents short run cost and revenue data for
Traci's Hairstyling is one salon among many in the monopolistically competitive market for hairstyling The following table presents short run cost and revenue data for haircuts at Traci's Hairstyling. COSTS REVENUES Quantity Total Marginal Quantity Total Marginal Produced Cost Cost Demanded Price Revenue Revenue O $10 0 $50 $15 $45 2 $21 2 $40 $28 $35 $36 $30 JOUAW $45 $25 $55 $20 $66 7 $15 $78 $10 1. Refer to Table 1. When maximizing profit, what price does Traci's charge for a haircut? a. $20 b. $25 C. $30 $35
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