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A monopolistic Coffee shop finds out that- 30% of the people in the region are willing to pay $30 for a pound of coffee, another 25% are willing to pay $40, and the remaining 45% are only willing to pay $24. The cost of producing each pound of coffee is $10. How much should the monopolist charge for each pound of coffee?
$10$24$30$40
P.S The answer is $24 but please show me how you would go about solving it instead of just applying trial and error tactics (or is trial and error the only way to solve it?).
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