The data below relate to a pure monopolist and the product it produces. What is the profit-maximizing output and price for this monopolist?PriceQuantityTotal Cost$220$20201241822716333144401254910659
A. P = $14; Q = 4
B. P = $18; Q = 2
C. P = $12; Q = 5
D. P = $16; Q = 3
Answer: A
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