A group of firms in competitive market produced 20 units of a good when the market price was $2.They incurred no marginal cost.Eventually they realized the benefits they could get by teaming up and acting as a monopolist.The following figure shows the demand curve and marginal revenue curve for this profit maximizing monopolist.
-Refer to Figure .Calculate the total revenue from production for the monopolist.
A) $96
B) $72
C) $40
D) $80
Correct Answer:
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