PRICE QUANTITY DEMANDED LRAC 50 1 10$ 35 2 20$ 20 3 24$ 5 4 37.50$ The table above shows demand and average total cost for a natural monopoly firm. What will the price will this firm charge? A 20 B 50 C 35 D 5 Question 2 Based on the graph above, find the profit maximizing price and quantity for this monopoly firm. Question 14 options: $36 and 200 units $36 and 300 units $48 and 200 units $60 and 100 units
PRICE QUANTITY DEMANDED LRAC 50 1 10$ 35 2 20$ 20 3 24$ 5 4 37.50$ The table above shows demand and average total cost for a natural monopoly firm. What will the price will this firm charge? A 20 B 50 C 35 D 5 Question 2 Based on the graph above, find the profit maximizing price and quantity for this monopoly firm. Question 14 options: $36 and 200 units $36 and 300 units $48 and 200 units $60 and 100 units
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
100%
PRICE |
QUANTITY DEMANDED | LRAC |
50 | 1 | 10$ |
35 | 2 | 20$ |
20 | 3 | 24$ |
5 | 4 | 37.50$ |
The table above shows demand and
A 20
B 50
C 35
D 5
Question 2
Based on the graph above, find the profit maximizing price and quantity for this monopoly firm.
|
$36 and 200 units |
|
$36 and 300 units |
|
$48 and 200 units |
|
$60 and 100 units |
![Price
$72
Marginal Cost
$60
$48
$36
$24
$12
Marginal
Demand
Revenue
100
200
300
400
500
600
Quantity](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8f1e68bb-fe86-4e47-bac1-4d92b29097c2%2Fde7e2b87-5dd8-4938-ae15-6fc3a238dc9c%2F25ern5m_processed.png&w=3840&q=75)
Transcribed Image Text:Price
$72
Marginal Cost
$60
$48
$36
$24
$12
Marginal
Demand
Revenue
100
200
300
400
500
600
Quantity
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