Figure: Monopoly Profits 2 18 16 14 12 10 8. 9. MC = AC MR O 20 40 60 80 100 120 140 160 180 Q What is the consumer surplus at the monopolist profit-maximizing output and price? $245 $630 O $315 O $280 4. 2

Figure: Monopoly Profits 2 18 16 14 12 10 8. 9. MC = AC MR O 20 40 60 80 100 120 140 160 180 Q What is the consumer surplus at the monopolist profit-maximizing output and price? $245 $630 O $315 O $280 4. 2

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

Figure: Monopoly Profits 2
P.
18
16
14
12
10
6.
MC = AC
MR
0 20 40 60 80 100 120 140 160 180 Q
What is the consumer surplus at the monopolist profit-maximizing output and price?
O $245
$630
O $315
$280
4.
2)

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The figure below shows the cost and revenue curves faced by a monopolist. The profit-maximizing output and price for the monopolist are: Figure 9.1 $/Q $30 24 222 420 22 20 10 0 50 100 150 117 MC ATC MR 200 AVC O 117 units and $14, respectively. O 150 units and $22, respectively. O 150 units and $14, respectively. O 117 units and $22, respectively. O 117 units and $24, respectively. D Q