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Which of the following quantities does a profit-maximizing monopolist set, and at which level? a. the product price where marginal cost equals marginal revenue b.

Which of the following quantities does a profit-maximizing monopolist set, and at which level?

a. the product price where marginal cost equals marginal revenue

b. output where marginal cost equals marginal revenue

c. output where marginal cost equals average revenue

d. price equal to the highest dollar amount that any customer is willing to pay

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