The following table gives total revenue and cost for a monopolist: Quantity Price Total Revenue Total Cost 100 185 150 130 180 290 170 175 415 222 170 520 287 15 165 600 367 6. 160 655 467 155 685 587 150 685 737 If the market were competitive how much lower would the price of the good be? lower What is the producer surplus of the monopolist? 49
The following table gives total revenue and cost for a monopolist: Quantity Price Total Revenue Total Cost 100 185 150 130 180 290 170 175 415 222 170 520 287 15 165 600 367 6. 160 655 467 155 685 587 150 685 737 If the market were competitive how much lower would the price of the good be? lower What is the producer surplus of the monopolist? 49
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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100%
![The following table gives total revenue and cost for a monopolist:
Quantity
Price
Total Revenue
Total Cost
100
1
185
150
130
180
290
170
175
415
222
4
170
520
287
165
600
367
160
655
467
155
685
587
150
685
737
If the market were competitive how much lower would the price of the good be?
lower
What is the producer surplus of the monopolist?
%24](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb9afbc96-d0d9-4b86-808a-9418bca15df1%2F8a1899e3-ca88-4a3c-b08c-97bc53236c16%2Ffxufvv_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following table gives total revenue and cost for a monopolist:
Quantity
Price
Total Revenue
Total Cost
100
1
185
150
130
180
290
170
175
415
222
4
170
520
287
165
600
367
160
655
467
155
685
587
150
685
737
If the market were competitive how much lower would the price of the good be?
lower
What is the producer surplus of the monopolist?
%24
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