Question: See page 444 01 Question (1 point) A medium-size city has a vibrant competitive market for bars, each of which operates with a liquor

See page 444 01 Question (1 point) A medium-size city has a vibrant competitive market for bars, each of which operates with a liquor license. A typical bar over the past year sold 20,000 drinks at an average price of $15. Each bar paid $180000 to the city for its liquor license. Drinks are produced at constant marginal cost, and we will assume for simplicity that there are no fixed costs besides the license. 1st attempt What is the margin that a typical bar earns on each drink? $ See Hint

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