Question: Answer the following: a. Complete the following table and use it to find this monopolists short-run profit-maximizing level of output. How much profit will this

Answer the following:
a. Complete the following table and use it to find this monopolist€™s short-run profit-maximizing level of output. How much profit will this firm earn?
b. Redo the table to show what will happen to the short-run profit-maximizing level of output if the monopolist€™s marginal costs rise by $1 at each level of output. How much profit will the firm earn now?
c. Redo the original table to show what will happen to the short-run profit-maximizing level of output if the monopolist€™s marginal cost at each level of output is $0.40 less than before. How much profit would the firm earn in this case?

Total Marginal Total Marginal Output Price Revenue Revenue Cost Cost Profit 0 $5.60 1 $5.50 2 $5.40 3 $5.30 4 $5.20 5 $5.10 6 $5.0 7 $4.90 0.50 $ 3.50 5.45 6.45 6.90 8.90 $13.40 $20.40

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