rio 15-3. At Q 500, the firm's total revenue is

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Scenario 15-3
A monopoly firm maximizes its profit by producing Q = 500 units of output. At that level of output, its marginal revenue is $30, its average revenue is $60, and its average
total cost is $34.
Refer to Scenario 15-3. At Q=500, the firm's total revenue is
a. $13,000.
b. $15,000.
c. $17,000.
d. $30,000.
Conteur
Transcribed Image Text:Scenario 15-3 A monopoly firm maximizes its profit by producing Q = 500 units of output. At that level of output, its marginal revenue is $30, its average revenue is $60, and its average total cost is $34. Refer to Scenario 15-3. At Q=500, the firm's total revenue is a. $13,000. b. $15,000. c. $17,000. d. $30,000. Conteur
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