Monopoly is producing a level of output

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A monopoly is producing a level of output at which price is $80, marginal revenue is $40, average total cost is $100, marginal cost is $40, and average fixed cost is $10. In order to maximize profit (minimize loss), the firm should

Produce more.

Keep output the same.

Produce less.

Shut down.

Reference no: EM13836569

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