Campus Bookstore is the only textbook supplier in the town, a profit-maximizing business. Customer Reservation Price (S/book) CRSTUVWX 8839782879 60 A. 7 B. 6 C. 5 54 48 42 36 30 24 18 Assume that the marginal and average total cost for each book is $22. 22. How much should the bookstore charge for this book if it must charge a single price to all customers? A. $36 B. $12 C. $42 D. $24 23. If the bookstore is selling the socially efficient number of books how many will it sell?

Campus Bookstore is the only textbook supplier in the town, a profit-maximizing business. Customer Reservation Price (S/book) CRSTUVWX 8839782879 60 A. 7 B. 6 C. 5 54 48 42 36 30 24 18 Assume that the marginal and average total cost for each book is $22. 22. How much should the bookstore charge for this book if it must charge a single price to all customers? A. $36 B. $12 C. $42 D. $24 23. If the bookstore is selling the socially efficient number of books how many will it sell?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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AutoSave W- q5 micro OFF Home Insert Draw Design Layout References Mailings Review View Share O Comments Calibri (Bod... v 11 A^ A Аa v AaBbCcDdE AaBbCcDdEe AaBb( AaBbCcDc AaBbCcDdE€ AqBbCcDdEe > Paste A A No Spacing Subtle Emph... Styles Pane Sensitivity v ab X, Subtitle U Normal Heading 1 Heading 2 Title * Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check for Updates Consider a monopolist that produces coal for energy, with demand curve defined by P = 190 – 20 and marginal cost given by MC = 10 + 2Q. Also, the firm's average total cost is ATC = 100/Q + Q+ 10. (Price and costs are in dollars per tonne of coal, while quantity is in thousands of tonnes.) Calculate the monopolisť's profit-maximizing quantity, price, and profit. For a monopoly, profit maximization occurs where the marginal revenue equals the marginal cost. a. b. What would be the competitive output and price if this monopolist operated as a competitive firm?…