**Figure 15-5**The following graph depicts the market situation for a monopoly pastry shop called Bearclaws.The graph consists of several curves on a grid labeled with PRICE on the vertical axis (ranging from 2 to 22) and QUANTITY on the horizontal axis (ranging from 20 to 140). There are four main curves:1. **MC (Marginal Cost):** An upward sloping curve.2. **ATC (Average Total Cost):** A U-shaped curve.3. **D (Demand):** A downward sloping curve.4. **MR (Marginal Revenue):** A downward sloping curve that lies below the demand curve.**Refer to Figure 15-5.** Based on the information shown, what is the total revenue for Bearclaws, given that it maximizes profits?- $490.- $900.- $1,080.- $980.

A monopoly is a type of market structure that consists of a single producing agent with complete…

Answered: Refer to Figure 15-5. Based upon the…

Refer to Figure 15-5. Based upon the information shown, what is total revenue for Bearclaws, given that it maximizes profits? $490. $900. $1,080. $980.

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 15-5**

The following graph depicts the market situation for a monopoly pastry shop called Bearclaws.

The graph consists of several curves on a grid labeled with PRICE on the vertical axis (ranging from 2 to 22) and QUANTITY on the horizontal axis (ranging from 20 to 140). There are four main curves:

1. **MC (Marginal Cost):** An upward sloping curve.
2. **ATC (Average Total Cost):** A U-shaped curve.
3. **D (Demand):** A downward sloping curve.
4. **MR (Marginal Revenue):** A downward sloping curve that lies below the demand curve.

**Refer to Figure 15-5.** Based on the information shown, what is the total revenue for Bearclaws, given that it maximizes profits?

- $490.
- $900.
- $1,080.
- $980.

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