(c) If marginal cost is constant at $18, what is the profit-maximizing rate of output?
(d) Assuming a firm has monopoly power, what price should be charged at that rate of output?
Question 3If the on-campus demand for soda is as follows: Price (per can)$0.250.500.751.001.251.501.752.00Quantity demanded(per day)10090807060504030And the marginal cost of supplying a soda is 50 cents, what price will students end up paying inInstructions:Enter your responses rounded to two decimal places.(a) A perfectly competitive market?
(b) A monopolized market?