Suppose the following table contains data of a Monopoly. Output Price (Tk.) Total Cost (Tk.)0 14 2____________1 12 6____________2 10 8____________3 8 12___________4 6 20___________5 4 32___________ What is the profit maximizing quantity of this firm?What price the above firm chooses to sell its output? 6. Suppose the following table contains data of a Monopoly.OutputPrice (Tk.)Total Cost (Tk.)141122108381246.20432a. What is the profit maximizing quantity of this firm?b. What price the above firm chooses to sell its output?

Q P TC TR=P*Q MR = ∆TR/∆Q MC=∆TC/∆Q 0 14 2 0 1 12 6 12 12 4 2 10 8 20 8 2 3 8 12 24 4 4…

Suppose the following table contains data of a Monopoly. Output Price (Tk.) Total Cost (Tk.) 0 14 2____________ 1 12 6____________ 2 10 8____________ 3 8 12______

Suppose the following table contains data of a Monopoly. Output Price (Tk.) Total Cost (Tk.) 0 14 2______ 1 12 6 2 10 8 3 8 12

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 the following table contains data of a Monopoly.

Output Price (Tk.) Total Cost (Tk.)

0 14 2____________

1 12 6____________

2 10 8____________

3 8 12___________

4 6 20___________

5 4 32___________

What is the profit maximizing quantity of this firm?
What price the above firm chooses to sell its output?

6. Suppose the following table contains data of a Monopoly.
Output
Price (Tk.)
Total Cost (Tk.)
14
1
12
2
10
8
3
8
12
4
6.
20
4
32
a. What is the profit maximizing quantity of this firm?
b. What price the above firm chooses to sell its output?

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