The following graph shows a firm in a monopolistic industry. P 30 20 16 15 10...

 

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The following graph shows a firm in a monopolistic industry. P 30 20 16 15 10 MR 60 84 90 D MC If the firm aims at maximizing profit, what will be the quantity produced and price charged by the firm? In no more than three sentences, explain why. b. If the firm aims at maximizing revenue what will be the quantity produced and the price charged by the firm? In no more than three sentences, explain why. The following graph shows a firm in a monopolistic industry. P 30 20 16 15 10 MR 60 84 90 D MC If the firm aims at maximizing profit, what will be the quantity produced and price charged by the firm? In no more than three sentences, explain why. b. If the firm aims at maximizing revenue what will be the quantity produced and the price charged by the firm? In no more than three sentences, explain why.