Suppose a pure monopolist is faced with the cost data shown In the table on the left and the demand schedule shown on the right. a. Calculate the missing total-revenue and marginal-revenue amounts. Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Production and Costs Demand Total Product Average Fixed Cost Average Variable Cost Average Total Marginal Cost Quantity Demanded Total Revenue Marginal Revenue Price Cost $ 115 1 %24 60 %24 45 105.00 $ 45 100 30 43 72.50 40 83 2 3 20 40 60.00 35 71 4. 15 38 52.50 30 63 4 12 37 49.00 35 55 5 10 38 47.50 40 48 6 9. 39 47.14 45 42 8 41 48.13 55 37 8 43 50.00 65 33 9 10 6 47 52.50 75 29 10 What is the profit-maximizing price?

Suppose a pure monopolist is faced with the cost data shown In the table on the left and the demand schedule shown on the right. a. Calculate the missing total-revenue and marginal-revenue amounts. Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Production and Costs Demand Total Product Average Fixed Cost Average Variable Cost Average Total Marginal Cost Quantity Demanded Total Revenue Marginal Revenue Price Cost $ 115 1 %24 60 %24 45 105.00 $ 45 100 30 43 72.50 40 83 2 3 20 40 60.00 35 71 4. 15 38 52.50 30 63 4 12 37 49.00 35 55 5 10 38 47.50 40 48 6 9. 39 47.14 45 42 8 41 48.13 55 37 8 43 50.00 65 33 9 10 6 47 52.50 75 29 10 What is the profit-maximizing price?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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