Question: Monopoly with entry choice (20 pts in total for Part A and B) Firm X has a marginal cost of = 2, and the market

Monopoly with entry choice (20 pts in total for Part A and B) Firm X has a marginal cost of = 2, and the market demand is = 22 . The firm has to pay an entry fee of $48 before it can produce and sell its product. (a) If X enters, how much is its optimal operating profit? (You do not need to include the entry fee when calculating the operating profit

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