Quantity Demanded Price in $ Total Revenue Revenue Cost Marginal Marginal 95 20 190 20 90 30 20 85 40 700 20 80 50 20 75 60 20 70 70 40 20 65 80 20 + 60 90 20 55 100 100 20 If this firm chooses a single price and acts as a profit maximizing monopolist, what price will they choose?

Quantity Demanded Price in $ Total Revenue Revenue Cost Marginal Marginal 95 20 190 20 90 30 20 85 40 700 20 80 50 20 75 60 20 70 70 40 20 65 80 20 + 60 90 20 55 100 100 20 If this firm chooses a single price and acts as a profit maximizing monopolist, what price will they choose?

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

Quantity
Demanded
Total
Revenue Revenue Cost
Marginal Marginal
Price in $
95
20
190
20
90
30
20
85
40
700
20
80
50
20
75
60
20
70
70
40
20
65
80
20
+ 60
90
20
55
100
100
20
If this firm chooses a single price and acts as a profit maximizing monopolist, what
price will they choose?

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