What are elixir''s profit-maximizing price and output

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Elixir Spring produces a unique and highly prized mineral water. The firm's total fixed cost is $5,000 a day, and its marginal cost is zero. Table 1 shows the demand schedule for Elixir water.

On a graph, show the demand curve for Elixir water and Elixir Spring's marginal revenue curve. What are Elixir's profit-maximizing price, output, and economic profit?

Reference no: EM131297982

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