Question: Using the table below, calculate the total profit () for this monopoly at output level Q=3. Quantity (Q) Marginal Revenue (MR) Marginal Cost (MC) Marginal

Using the table below, calculate the total profit () for this monopoly at output level Q=3. Quantity (Q) Marginal Revenue (MR) Marginal Cost (MC) Marginal Profit (MP) Profit () 1 1,150 400 ? ? 2 1,000 250 ? ? 3 650 200 ? ? 4 175 175 0 ? 5 0 250 250 ? Provide your answer below

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