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Refer to the figures of a monopolistic catfish farmer below: Instructions: Enter your responses rounded to the nearest whole number.
(a) What is the highest price the monopolist could charge and still sell fish? $
(b) What is total revenue at that highest price? $
(c) What rate of output maximizes total revenue? bushels
(d) What rate of output maximizes total profit? bushels
(e) What is MR at that rate of output? $
(f) What is the price at the profit-maximizing rate of output? $
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