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Hot Air Balloon Rides is a single-price monopoly. Columns 1 and 2 of the table set out the market demand schedule and columns 2 and 3 set out the total cost schedule. Price Quantity Total cost (dollars (rides (dollars per Calculate Hot Air's profit-maximizing output and price. Calculate the economic profit. per ride) per month) month) Hot Air's profit-maximizing number of rides is a month and the profit-maximizing price is $ a ride. 180 25 >>> Answer to 1 decimal place. 170 180 160 345 When Hot Air produces the profit-maximizing output and charges the profit-maximizing price, the firm 150 520 of $. 140 705 130 900 pss, select economic loss in the dropdown box and do not enter a minus sign. makes an economic profit incurs an economic loss