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In the following table are demand and cost data for a pure monopolist. Complete the table by filling in the columns for total revenue, marginal revenue, and marginal cost. Answer these three questions: (a) What output will the monopolist produce? (b) What price will the monopolist charge? (c) What total profit will the monopolist receive at the profit-maximizing level of output? (6 marks) Total Marginal Total Marginal Quantity Price revenue revenue cost cost 0 $34 $______ $ 20 1 32 ______ $______ 36 $______ 2 30 ______ ______ 46 ______ 3 28 ______ ______ 50 ______ 4 26 ______ ______ 54 ______ 5 24 ______ ______ 56 ______ 6 22 ______ ______ 64 ______ 7 20 ______ ______ 80 ______ 8 18 ______ ______ 100 ______ 9 16 ______ ______ 128 ______ 10 14 ______ ______ 160 ______
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