Mm.8.Subject:- economic Profit is maximized at a price of $b. The profit-maximizing level of output isc. At the optimal level of output, total revenue is $_profit is $d.Suppose the manager mistakenly wishes to maximize profit margin or profit per unit (i.e.,P-ATC), and sets price equal to $60. Profit margin at $60 is $_per unit. The(less than,which isa.total cost is $total profit earned when price is $60 is $equal to, greater than) the profit in part c. Explain using marginal analysis.and 4.2 The following graph shows demand, MR, and cost curves for a monopoly in the short run:Price and cost (dollars)605040201001,0002,0003,0004,000Quantity5,000MD6,000I7,000DSMC8,000ATCAVC

Profit is maximized by producing at a point where marginal revenue is equal to marginal cost.

. Profit is maximized at a price of $_ level of output is 5. The profit-maximizing c. At the optimal level of output, total revenue is $ profit is $ d. Suppose the manager mistakenly wishes to maximize profit margin or profit per unit (i.e., P-ATC), and sets price equal to $60. Profit margin at $60 is $_ total profit earned when price is $60 is $_ per unit. The (less than, which is equal to, greater than) the profit in part c. Explain using marginal analysis. total cost is $ and

. Profit is maximized at a price of $_ level of output is 5. The profit-maximizing c. At the optimal level of output, total revenue is $ profit is $ d. Suppose the manager mistakenly wishes to maximize profit margin or profit per unit (i.e., P-ATC), and sets price equal to $60. Profit margin at $60 is $_ total profit earned when price is $60 is $_ per unit. The (less than, which is equal to, greater than) the profit in part c. Explain using marginal analysis. total cost is $ and

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Mm.8.

Subject:- economic

Profit is maximized at a price of $
b. The profit-maximizing level of output is
c. At the optimal level of output, total revenue is $_
profit is $
d.
Suppose the manager mistakenly wishes to maximize profit margin or profit per unit (i.e.,
P-ATC), and sets price equal to $60. Profit margin at $60 is $_
per unit. The
(less than,
which is
a.
total cost is $
total profit earned when price is $60 is $
equal to, greater than) the profit in part c. Explain using marginal analysis.
and

4.2 The following graph shows demand, MR, and cost curves for a monopoly in the short run:
Price and cost (dollars)
60
50
40
20
10
0
1,000
2,000
3,000
4,000
Quantity
5,000
MD
6,000
I
7,000
D
SMC
8,000
ATC
AVC

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