Suppose the accompanying table describes the relationship between price and quantity demanded for a monopolist. Quantity Price $ 10 2 3 4 1. 4 8 3 If the marginal cost of producing each unit of output is $9, then this monopolist maximizes its profit by charging per unit. Multiple Choice $9 $2 $1 $10

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A: Total revenue when output is 60 = 900 Total revenue when output is 80 = 800

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A: Profit: It is the excess amount of total revenue over the total cost.

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A:

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