Graph shows the cost and revenue information for Shitotsu the monopolist. What are the levels of price, output, total (sales) revenue, and total profits if the monopolist were to produce at the positions (a) through (d) indicated in table below? Costs and revenues a. Total revenue maximization b. Profit-maximization c. Socially optimum price d. Fair-return price 40 36 32 28 24 20 16 2 2 2 2 2 8 4 MR D=AR 4799 MC AC 12 16 20 24 28 Quantity per period Total Total Price($) Output Revenue ($) Profits ($)
Graph shows the cost and revenue information for Shitotsu the monopolist. What are the levels of price, output, total (sales) revenue, and total profits if the monopolist were to produce at the positions (a) through (d) indicated in table below? Costs and revenues a. Total revenue maximization b. Profit-maximization c. Socially optimum price d. Fair-return price 40 36 32 28 24 20 16 2 2 2 2 2 8 4 MR D=AR 4799 MC AC 12 16 20 24 28 Quantity per period Total Total Price($) Output Revenue ($) Profits ($)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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
Transcribed Image Text:Graph shows the cost and revenue information for Shitotsu the monopolist. What are the levels of price, output, total (sales) revenue,
and total profits if the monopolist were to produce at the positions (a) through (d) indicated in table below?
Costs and revenues
40
24
20
16
12
བྷྲ བྷ ལྐ སྐྰ ཟླ་R་ལྔ ་"་
32
28
8
4
0
12 16
20
24
28
Quantity per period
Total
Total
Price($)
Output Revenue ($) Profits ($)
a. Total revenue
maximization
b. Profit-maximization
c. Socially optimum price
d. Fair-return price
MR
D=AR
MC
AC
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