Suppose a pure monopolist is faced with the cost data shown In the table on the left and the demand schedule shown on the right. a. Calculate the missing total-revenue and marginal-revenue amounts. Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Production and Costs Demand Total Product Average Fixed Cost Average Variable Cost Average Total Marginal Cost Quantity Demanded Total Revenue Marginal Revenue Price Cost $ 115 1 %24 60 %24 45 105.00 $ 45 100 30 43 72.50 40 83 2 3 20 40 60.00 35 71 4. 15 38 52.50 30 63 4 12 37 49.00 35 55 5 10 38 47.50 40 48 6 9. 39 47.14 45 42 8 41 48.13 55 37 8 43 50.00 65 33 9 10 6 47 52.50 75 29 10 What is the profit-maximizing price?

Suppose a pure monopolist is faced with the cost data shown In the table on the left and the demand schedule shown on the right. a. Calculate the missing total-revenue and marginal-revenue amounts. Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Production and Costs Demand Total Product Average Fixed Cost Average Variable Cost Average Total Marginal Cost Quantity Demanded Total Revenue Marginal Revenue Price Cost $ 115 1 %24 60 %24 45 105.00 $ 45 100 30 43 72.50 40 83 2 3 20 40 60.00 35 71 4. 15 38 52.50 30 63 4 12 37 49.00 35 55 5 10 38 47.50 40 48 6 9. 39 47.14 45 42 8 41 48.13 55 37 8 43 50.00 65 33 9 10 6 47 52.50 75 29 10 What is the profit-maximizing price?

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

Suppose a pure monopolist is faced with the cost data shown In the table on the left and the demand schedule shown on the right.
a. Calculate the missing total-revenue and marginal-revenue amounts.
Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to
include a negative sign (-) in front of those numbers.
Production and Costs
Demand
Total
Product
Average Fixed
Cost
Average
Variable Cost
Average Total Marginal
Cost
Quantity
Demanded
Total
Revenue
Marginal
Revenue
Price
Cost
115
1
2$
60
2$
45
105.00 $
45
100
1
2
30
43
72.50
40
83
20
40
60.00
35
71
3
15
38
52.50
30
63
4
12
37
49.00
35
55
5
6.
10
38
47.50
40
48
9
39
47.14
45
42
7
8
41
48.13
55
37
8
9
43
50.00
65
33
9
10
47
52.50
75
29
10
. What is the profit-maximizing price?

b. What is the profit-maximizing price?
What is the profit-maximizing output for this monopolist?
units
c. What is the monopolist's profit?

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