Suppose that the inverse demand for a product is represented by the equation P = 120 – 10Q, where P is the price in Euros and Q is the annual output. Suppose that only one firm produces this product and that the marginal and average cost is €20. What is the monopolist’s profit maximizing price  assuming that it has to charge a single price to each consumer?     A.     5      B.     10      C.     35      D.     70

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