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Use the following to answer questions:
Figure: Computing Monopoly Profit
-(Figure: Computing Monopoly Profit) Look at the figure Computing Monopoly Profit. The profit-maximizing price is _____ and will generate total economic profit of _____.
Logical Function
In computing and mathematics, a function that evaluates a set of conditions and returns a true or false value.
IF
A conditional statement used in programming that executes a specific segment of code if a given condition is true.
VLOOKUP
A function in Excel and other spreadsheet software that searches for a value in the first column of a range and returns a value in the same row from a specified column.
COUNTIF
A function in spreadsheet software that counts the number of cells within a range that meet a single criterion.
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