Solve all this question......you will not solve all questions then I will give you down?? upvote... 11)What will be the short-run profit of this firm?a. $380O b. $360c. $250d. $230O e. $8012) What will be the long-run profit of this firm?a. $380b. $360c. $250d. $230e. $80 Use the following information to answer questions 11 + 12.A monopolist faces the prices and variable costs shown in the table below. They also have fixedcosts of $100.Output Price Total Variable Cost01234567$300 $0$280 $100$270 $190$250 $270$200 $340$150 $420$100 $510$50 $610

A market structure known as a monopolistic market occurs when one company or provider controls the…

Answered: What will be the short-run profit of…

What will be the short-run profit of this firm? a. $380 Ob. $360 O c. $250 O d. $230 O e. $80 12) What will be the long-run profit of this firm? a. $380 b. $360 c. $250 d. $230 e. $80

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter14: Indirect Price Discrimination

Section: Chapter Questions

Problem 6MC

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Concept explainers

Profit Maximization

Economic activity is related to the use of scarce resources of the economy that are used for producing goods and services which are required to satisfy various demands of the people. In other words, it can be said that it is all about satisfying the unlimited demands of individuals with the limited resources available. The production decision is taken by the producers or the firms. In economics, the terms ‘producers’, ‘suppliers’, and ‘firms’ are interchangeable. Now the question arises, what does a firm actually mean?

Question

Solve all this question......you will not solve all questions then I will give you down?? upvote...

11)
What will be the short-run profit of this firm?
a. $380
O b. $360
c. $250
d. $230
O e. $80
12) What will be the long-run profit of this firm?
a. $380
b. $360
c. $250
d. $230
e. $80

Use the following information to answer questions 11 + 12.
A monopolist faces the prices and variable costs shown in the table below. They also have fixed
costs of $100.
Output Price Total Variable Cost
0
1
2
3
4
5
6
7
$300 $0
$280 $100
$270 $190
$250 $270
$200 $340
$150 $420
$100 $510
$50 $610

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Step 1: Define monopolist market.

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