Q28 and q29 $55$50MCATC$45$40$35$30$25$20Demand = P$15$10$5MR$04080120160200240Output (Q)The diagram above shows the Demand, MR, and cost curves for a monopolist in the short-run. The monopolist willmaximize its profit by choosing Output (Q) leveland charging PriceSelect one:O a.120; $35O b. 160; $25O c.120; $20O d. 160; $30Next page$$ $55$50$45MCATC$40$35$30$25$20Demand = P$15$10$5MR$04080120160200240Output (Q)The diagram above shows the Demand, MR, and cost curves for a monopolist in the short-run. At the profitmaximizing Output (Q) level, the monopolist will earn a Total Profit of:Select one:O a. $2,000O b. $1,200O c. $2,200O d. $800$

28. The profit-maximizing monopolist will produce where the marginal cost equals marginal revenue in…

$55 * 50 $45 MC ATC $40 $35 $30 $25 $20 Demand = P $15 $10 $5 MR $0 40 80 120 160 200 240 Output (Q) The diagram above shows the Demand, MR, and cost curves for a monopolist in the short-run. The monopolist will maximize its profit by choosing Output (Q) level and charging Price Select one: O a. 120; $35 O b. 160; $25 Oc. 120; $20 Od. 160; $30

$55 * 50 $45 MC ATC $40 $35 $30 $25 $20 Demand = P $15 $10 $5 MR $0 40 80 120 160 200 240 Output (Q) The diagram above shows the Demand, MR, and cost curves for a monopolist in the short-run. The monopolist will maximize its profit by choosing Output (Q) level and charging Price Select one: O a. 120; $35 O b. 160; $25 Oc. 120; $20 Od. 160; $30

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Comparative Advantage and Absolute Advantage Analysis

The theory of absolute advantage was given by Adam Smith in the year 1776.

Question

Q28 and q29

$55
$50
MC
ATC
$45
$40
$35
$30
$25
$20
Demand = P
$15
$10
$5
MR
$0
40
80
120
160
200
240
Output (Q)
The diagram above shows the Demand, MR, and cost curves for a monopolist in the short-run. The monopolist will
maximize its profit by choosing Output (Q) level
and charging Price
Select one:
O a.
120; $35
O b. 160; $25
O c.
120; $20
O d. 160; $30
Next page
$$

$55
$50
$45
MC
ATC
$40
$35
$30
$25
$20
Demand = P
$15
$10
$5
MR
$0
40
80
120
160
200
240
Output (Q)
The diagram above shows the Demand, MR, and cost curves for a monopolist in the short-run. At the profit
maximizing Output (Q) level, the monopolist will earn a Total Profit of:
Select one:
O a. $2,000
O b. $1,200
O c. $2,200
O d. $800
$

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