Refer to the information provided in Table 13.2 below to answer the question(s) that follow. Table 13.2Price ($)Quantity10.0019.0028.0037.0046.0055.0064.007Refer to Table 13.2. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $2 per unit of providing the product, then the monopoly maximizes its profits by charging ________ per unit and selling ________ units of output.
A. $7; 4
B. $6; 5
C. $8; 3
D. $5; 6
Answer: B
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What will be an ideal response?
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What will be an ideal response?