Question: Answer the question on the basis of the following information for a firm operating in an imperfectly competitive market:
Output------------Price------------Total Cost
----0--------------$500---------------$250
----1--------------$300---------------$260
----2--------------$250---------------$290
----3--------------$200---------------$350
----4--------------$150---------------$480
----5--------------$100---------------$700
How many units would the above profit-maximizing monopolist produce? Explain.