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The accompanying Wale below shows the demand schedule facing a monopolist who produces at a constant marginal cost of $5.
Demand schedule facing a monopolist
Price
9
8
7
6
5
4
3
2
1
0
a) calculate the firm, marginal revenue schedule.
b) what is the profit-maximizing output for the monopolist?
c) what is the optimal price for the monopolist?
d) what would the equilibrium price and output be for a competitive industry?
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