economicsA publisher faces the following demand schedule for the next novel from one of its popular authors:
$$
\begin{array}{rc}
\text { Price } & \text { Quantity Demanded } \\
\hline \$ 100 & 0 \text { novels } \\
90 & 100,000 \\
80 & 200,000 \\
70 & 300,000 \\
60 & 400,000 \\
50 & 500,000
\end{array}
$$
$$
\begin{array}{rc}
\text { Price } & \text { Quantity Demanded } \\
\hline 40 & 600,000 \\ 30 & 700,000 \\ 20 & 800,000 \\ 10 & 900,000 \\ 0 & 1,000,000\end{array}
$$
The author is paid $\$ 2$ million to write the book, and the marginal cost of publishing the book is a constant $\$ 10$ per book.
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