b bMy Question X WMonop HW X Σ Σ G + f G Office Editing for Docs, Sheets & Slides chrome-extension://bpmcpldpdmajfigpchkicefoigmkfalc/... The quantity has been found for you by finding where MC-MR. The monopolist sets price by charging as high as demand will bear at that quantity. So once the quantity has been found, go upon the dotted is the price. Total Revenue is PxQ, Total costs are found by finding the average cost and multiplving by O. ATC AVC 100 100 MR What is the optimal quantity? What is the price? What is Total Revenue? What is Total Cost? What is Total Variable Cost? What is Total Fixed Cost? [Hint: Average fixed cost is the vertical distance between the ATC and AVC curves at the optimal Q.] Is there a profit or a loss? How much? 8 11:02

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
b
bMy Question X
WMonop HW X
Σ
Σ
G
+
f
G
Office Editing for Docs, Sheets & Slides
chrome-extension://bpmcpldpdmajfigpchkicefoigmkfalc/...
The quantity has been found for you by finding where MC-MR. The monopolist sets price by charging
as high as demand will bear at that quantity. So once the quantity has been found, go upon the dotted
is the price. Total
Revenue is PxQ, Total costs are found by finding the average cost and multiplving by O.
ATC
AVC
100
100
MR
What is the optimal quantity?
What is the price?
What is Total Revenue?
What is Total Cost?
What is Total Variable Cost?
What is Total Fixed Cost? [Hint: Average fixed cost is the vertical distance between the ATC and AVC
curves at the optimal Q.]
Is there a profit or a loss? How much?
8
11:02
Transcribed Image Text:b bMy Question X WMonop HW X Σ Σ G + f G Office Editing for Docs, Sheets & Slides chrome-extension://bpmcpldpdmajfigpchkicefoigmkfalc/... The quantity has been found for you by finding where MC-MR. The monopolist sets price by charging as high as demand will bear at that quantity. So once the quantity has been found, go upon the dotted is the price. Total Revenue is PxQ, Total costs are found by finding the average cost and multiplving by O. ATC AVC 100 100 MR What is the optimal quantity? What is the price? What is Total Revenue? What is Total Cost? What is Total Variable Cost? What is Total Fixed Cost? [Hint: Average fixed cost is the vertical distance between the ATC and AVC curves at the optimal Q.] Is there a profit or a loss? How much? 8 11:02
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