A monopolist serves a market with five potential buyers, each of whom would buy at most one piece of the monopolist's good. Anna would be willing to pay up to £50 for it, Bob up to £70, Chloe up to £90, Dave up to £110 and Elizabeth up to £130. The monopolist's variable cost function is given in below table. Quantity Marginal Costs 1 50 2 55 Price Marg. Revenue c) Find the monopolist's profit maximising quantity. 3 60 4 65 5 70

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