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A monopolistic coffee producer discovers that 30% of the people in the region are willing to pay $15 for a pound of coffee, another 25% are willing to pay $20, and the remaining 45% are only willing to pay $12. The cost of producing each pound of coffee is $10. How much should the monopolist charge for each pound of coffee?
$10
$12
$15
$2
P.S There's no formula i can use for this right? It's trial and error?
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