00 B. F. %#3 thapter 12 Saved Help Save Currently, a monopolist's profit-maximizing output is 500 units per week and it sells its output at a price of $50 per unit. The firm's total costs are $5,000 per week. The firm is maximizing its profit, and it earns $25 in extra revenue from the sale of the last unit produced each week. Instructions: Enter your answers as whole numbers. a. What are the firm's weekly economic profits? 24 b. What is the firm's marginal cost? $4 c. What is the firm's average total cost? %24 < Prev 8 of 8 raw 69°F Mostly sunny ype here to search 近 Profile Ball® 1.0 nsert F4 F5 F1 F2 8. 8. % $4 5. 7. 4. 2. R G H N M Alt Ctrl
00 B. F. %#3 thapter 12 Saved Help Save Currently, a monopolist's profit-maximizing output is 500 units per week and it sells its output at a price of $50 per unit. The firm's total costs are $5,000 per week. The firm is maximizing its profit, and it earns $25 in extra revenue from the sale of the last unit produced each week. Instructions: Enter your answers as whole numbers. a. What are the firm's weekly economic profits? 24 b. What is the firm's marginal cost? $4 c. What is the firm's average total cost? %24 < Prev 8 of 8 raw 69°F Mostly sunny ype here to search 近 Profile Ball® 1.0 nsert F4 F5 F1 F2 8. 8. % $4 5. 7. 4. 2. R G H N M Alt Ctrl
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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