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[Solution Library] A monopoly has 10 potential customers. Each customer will purchase 1 unit at most. The values to the customers are: 10, 9, 8, 7, 6, 5, 4,

Question: A monopoly has 10 potential customers. Each customer will purchase 1 unit at most. The values to the customers are: 10, 9, 8, 7, 6, 5, 4, 3, 2, and 1. TC = 2.5*Q.

  1. If the monopoly posts a single price, what price and quantity maximize the firm’s profit? What is the maximum profit?
  2. If the monopoly engages in 1 st degree price discrimination, what quantity maximizes profit? What is the maximum profit?

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