Question: The table below shows the information on quantity, price and cost of a monopolist. Assume that the xed cost is $20. Total Variable Cost $20

The table below shows the information on quantity, price and cost of a monopolist. Assume that the xed cost is $20. Total Variable Cost $20 $60 $120 $200 $300 _ $420 Determine the optimal output of the rm and compute the prot or loss of the rm at the optimal output. At what price will the monopolist exit from the industry? (7 marks)

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