8. Fill in the blanks: Suppose that a monopoly faces the following demand schedule. It costs the monopoly $3 to produce every unit of output and it had FC = $4. P $10 $9 $8 $7 $6 $5 $4 Q 1 2 3 4 7 The firm's optimal quantity is and its optimal price is

8. Fill in the blanks: Suppose that a monopoly faces the following demand schedule. It costs the monopoly $3 to produce every unit of output and it had FC = $4. P $10 $9 $8 $7 $6 $5 $4 Q 1 2 3 4 7 The firm's optimal quantity is and its optimal price is

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

8. Fill in the blanks: Suppose that a monopoly faces the following demand schedule. It
costs the monopoly $3 to produce every unit of output and it had FC = $4.
P $10
$9
$8
$7
$6
$5
$4
Q
1
3
4
5
6.
7
The firm's optimal quantity is
and its optimal price is

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**You only need to answer Question C*