The table below shows the marginal revenue and costs for a monopolist.Demand, Costs, and RevenuesPrice(dollars)QuantityDemanded$1302001203001104001005009060080700$50,000O $80,000$10,000Marginal Revenue Marginal Cost Average Total Cost(dollars)(dollars)(dollars)$110$25$139.0032103.304087.505080.006277.007777.00What is the monopolist's profit at the profit-maximizing level of output?O $09070503010

Profit maximization for a monopoly means calculating the quantity to produce where marginal cost…

The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Quantity Price (dollars) Demanded $130 200 300 400 500 600 700 120 110 100 90 80 Marginal Revenue (dollars) $110 90 70 50 30 10 $50,000 $80,000 O $10,000 O $0 Marginal Cost Average Total Cost (dollars) (dollars) $25 $139.00 32 103.30 40 87.50 50 80.00 62 77.00 77 77.00 What is the monopolist's profit at the profit-maximizing level of output?

The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Quantity Price (dollars) Demanded $130 200 300 400 500 600 700 120 110 100 90 80 Marginal Revenue (dollars) $110 90 70 50 30 10 $50,000 $80,000 O $10,000 O $0 Marginal Cost Average Total Cost (dollars) (dollars) $25 $139.00 32 103.30 40 87.50 50 80.00 62 77.00 77 77.00 What is the monopolist's profit at the profit-maximizing level of output?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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