ok st nces The following table shows the cost and revenue data for Molly the monopolist. Total Revenue Marginal Cost Quantity per Period 0 1 2 3 4 5 6 1 B 9 Price $30 30 29 28 27 26 25 24 22 20 $ 0 30 58 84 108 130 150 168 176 180 Marginal Revenue $ $ 27 20 20 9 22 23 24 27 27 Total Cost $5 32 52 72 83 105 128 152 206 a. Complete the table above. b. What are Molly's profit-maximizing output and price, and what will be the amount of her profit? Output: Price:$ Profit: $

ok st nces The following table shows the cost and revenue data for Molly the monopolist. Total Revenue Marginal Cost Quantity per Period 0 1 2 3 4 5 6 1 B 9 Price $30 30 29 28 27 26 25 24 22 20 $ 0 30 58 84 108 130 150 168 176 180 Marginal Revenue $ $ 27 20 20 9 22 23 24 27 27 Total Cost $5 32 52 72 83 105 128 152 206 a. Complete the table above. b. What are Molly's profit-maximizing output and price, and what will be the amount of her profit? Output: Price:$ Profit: $

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Book
rences
The following table shows the cost and revenue data for Molly the monopolist.
Total
Revenue
Marginal
Revenue
Marginal
Cost
1
Quantity per
Period
0
1
2
3
4
5
6
7
B
9
Price
$30
30
29
28
27
26
25
24
22
20
$
0
30
58
84
108
130
150
168
176
180
$
$
27
20
20
9
22
23
24
27
27
Total Cost
$5
32
52
72
83
105
128
152
179
206
•
a. Complete the table above.
b. what are Molly's profit-maximizing output and price, and what will be the amount of her profit?
Output:
Price: $
Profit: $

c. Suppose that the demand for Molly's product increased by three units at every price level. Complete the table below.
Total
Revenue
Marginal
Cost
Quantity per
Period
Price
$30
30
29
28
27
26
25
24
22
20
$
Marginal
Revenue
$
$
Total Cost
$
d. What will be her new profit-maximizing output and price, and what will be the amount of her profit?
Output:
Price: $
Profit: $
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