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22. Consider Fig. 5, which shows the market demand as well as a monopolist's costs. The total fixed costs for the monopolist is $1000. The monopolist's profit under UNIFORM PRICING is Price Figure 5 120 110 100 90 80 MC 70 AVC 60 50 40 30 20 10 20 40 60 60 10 30 50 80 70 MR 100 120 140 160 180 200 220 240 90 110 130 Demand Quantity A. $600 B. $1,600 C. $2,200 D. $2,600 E. $3,800

22. Consider Fig. 5, which shows the market demand as well as a monopolist's costs. The total fixed costs for the monopolist is $1000. The monopolist's profit under UNIFORM PRICING is Price Figure 5 120 110 100 90 80 MC 70 AVC 60 50 40 30 20 10 20 40 60 60 10 30 50 80 70 MR 100 120 140 160 180 200 220 240 90 110 130 Demand Quantity A. $600 B. $1,600 C. $2,200 D. $2,600 E. $3,800

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter9: Monopoly
Section: Chapter Questions
Problem 29CTQ: Imagine that you ale managing a small firm and thinking about entering the market of a monopolist....
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22. Consider Fig. 5, which shows the market demand as well as a monopolist's costs. The total fixed costs for the monopolist is $1000. The monopolist's profit under UNIFORM PRICING is Price Figure 5 120 110 100 90 80 MC 70 AVC 60 50 40 30 20 10 20 40 60 60 10 30 50 80 70 MR 100 120 140 160 180 200 220 240 90 110 130 Demand Quantity A. $600 B. $1,600 C. $2,200 D. $2,600 E. $3,800
Transcribed Image Text:22. Consider Fig. 5, which shows the market demand as well as a monopolist's costs. The total fixed costs for the monopolist is $1000. The monopolist's profit under UNIFORM PRICING is Price Figure 5 120 110 100 90 80 MC 70 AVC 60 50 40 30 20 10 20 40 60 60 10 30 50 80 70 MR 100 120 140 160 180 200 220 240 90 110 130 Demand Quantity A. $600 B. $1,600 C. $2,200 D. $2,600 E. $3,800
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