Business, 06.02.2020 01:42 awkwardkid0123
Suppose a pure monopolist is faced with the cost data shown in the table above and a demand schedule shown on below.
calculate the missing total-revenue and marginal-revenue amounts.
instructions: enter only whole numbers in the table below. if you are entering a negative number, be sure to include a negative sign in front of that number.
production and costs
total average average average marginal
product fixed cost variablecost total cost cost
0 na na na na
1 $60.00 $45.00 $105.00 $45
2 30.00 42.50 72.50 40
3 20.00 40.00 60.00 35
4 15.00 37.50 52.50 30
5 12.00 37.00 49.00 35
6 10.00 37.50 47.50 40
7 8.57 38.57 47.14 45
8 7.50 40.63 48.13 55
9 6.67 43.33 50.00 65
10 6.00 46.50 52.50 75
price quantity demanded total revenue marginal revenue
$115 0 $ na 100 1 $ 83 2
71 3
63 4
55 5
48 6
42 7
37 8
33 9
29 10
a) what is the profit-maximizing price?
b) what is the profit-maximizing quantity?
c) what is the monopolist’s profit?
Answers: 2
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