The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price (dollars) $85 79 73 67 61 55 Quantity Demanded 50 150 250 350 450 550 Marginal Revenue (dollars) $85 76 64 52 40 28 Marginal Cost (dollars) $25 85 64 61 67 77 Average T- $139.00 103.30 87.50 80.00 77.00 77.00 The monopolist's profit-maximizing level of output is................units and the monopolist's profit at the profit maximizing output is...................?
The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price (dollars) $85 79 73 67 61 55 Quantity Demanded 50 150 250 350 450 550 Marginal Revenue (dollars) $85 76 64 52 40 28 Marginal Cost (dollars) $25 85 64 61 67 77 Average T- $139.00 103.30 87.50 80.00 77.00 77.00 The monopolist's profit-maximizing level of output is................units and the monopolist's profit at the profit maximizing output is...................?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![The table below shows the marginal revenue and costs for a monopolist.
Demand, Costs, and Revenues
Price (dollars) Quantity Demanded
$85
79
73
67
61
55
50
150
250
350
450
550
Marginal Revenue (dollars)
$85
76
64
1. 250; -$3,625
2. 250; $3,625
3. 350; -$3,625
4. 350; $4625
52
40
28
Marginal Cost (dollars)
$25
85
64
61
67
77
Average Total Cost (dol
$139.00
103.30
87.50
80.00
77.00
77.00
The monopolist's profit-maximizing level of output is...................its and the monopolist's profit at the
profit maximizing output is....](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe7debb93-499e-46e1-bb85-11f735e88244%2Facf0bc48-06b3-4f42-844f-37cceb286e95%2Fd6qsn6j_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The table below shows the marginal revenue and costs for a monopolist.
Demand, Costs, and Revenues
Price (dollars) Quantity Demanded
$85
79
73
67
61
55
50
150
250
350
450
550
Marginal Revenue (dollars)
$85
76
64
1. 250; -$3,625
2. 250; $3,625
3. 350; -$3,625
4. 350; $4625
52
40
28
Marginal Cost (dollars)
$25
85
64
61
67
77
Average Total Cost (dol
$139.00
103.30
87.50
80.00
77.00
77.00
The monopolist's profit-maximizing level of output is...................its and the monopolist's profit at the
profit maximizing output is....
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![ENGR.ECONOMIC ANALYSIS](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9780190931919/9780190931919_smallCoverImage.gif)
![Principles of Economics (12th Edition)](https://www.bartleby.com/isbn_cover_images/9780134078779/9780134078779_smallCoverImage.gif)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
![Engineering Economy (17th Edition)](https://www.bartleby.com/isbn_cover_images/9780134870069/9780134870069_smallCoverImage.gif)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
![Principles of Economics (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781305585126/9781305585126_smallCoverImage.gif)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
![Managerial Economics: A Problem Solving Approach](https://www.bartleby.com/isbn_cover_images/9781337106665/9781337106665_smallCoverImage.gif)
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
![Managerial Economics & Business Strategy (Mcgraw-…](https://www.bartleby.com/isbn_cover_images/9781259290619/9781259290619_smallCoverImage.gif)
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education