Refer to the table below. If the monopoly produces 20 units, charges the corresponding price of $360, and its average total cost to produce the 20 units is $187, what is their economic profit or economic loss?
The above table shows the quantity demanded at varying prices and the corresponding marginal cost of production for a monopoly firm.
A) -$2,350
B) $4,560
C) -$3,400
D) $3,460
D) $3,460
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What will be an ideal response?