Suppose a monopolist's profit-maximizing output is 200 units per week and that the firm sells its output at a price of $60 per unit. The firm has total costs of $9,000rper week. Assume the monopolist is maximizing its profit and earns $30 per unit from the sale of the last unit produced each week. Instructions: Enter your answers as a whole number. a. What are the firm's weekly economic profits? $4 b. What is the firm's marginal cost? $4 c. What is the firm's average total cost? %24

Suppose a monopolist's profit-maximizing output is 200 units per week and that the firm sells its output at a price of $60 per unit. The firm has total costs of $9,000rper week. Assume the monopolist is maximizing its profit and earns $30 per unit from the sale of the last unit produced each week. Instructions: Enter your answers as a whole number. a. What are the firm's weekly economic profits? $4 b. What is the firm's marginal cost? $4 c. What is the firm's average total cost? %24

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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