Question: 5.5 Explain why charging a higher or lower price than p = 10 reduces the monopolys profit in Figure 12.5. Show the monopolys profit if

5.5 Explain why charging a higher or lower price than p = 10 reduces the monopoly’s profit in Figure 12.5. Show the monopoly’s profit if p = 20 and compare it to its profit if p = 10.

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