.If MR > MC, the monopolist should: MR = Marginal Revenue MC Marginal Cost Group of answer choices decrease production. = stop producing. increase production. maintain the same level of production.

a.   At what output rate and price does the monopolist operate?         b.   In equilibrium, approximately what is the firm’s total cost and total revenue?         c.   What is the firm’s economic profit or loss in equilibrium?

Answer the question by referring to the table below. The table shows the demand curve facing a monopolistwho produces at constant marginal cost of 6. In short-run equilibrium, the monopolist will produceQuantity Price10 1020 930 840 750 660 5a) 20 unitsb) 30 unitsc) 40 unitsd) 50 units

a. what is the optimal quantity of goods for the firm to produce b. what is the optimal price for the quantity of goods for the firm to produce c. what is the total revenue for the firm d. what is the total cost for the firm e. what is profit/loss for the firm

Figure monopolist, to answer questions a-c. a.  indicate the profit maximizing price and output level and label them P 1 and Q 1. b. Shade in the area that represents the firm's economic profit (or loss). c. If this firm wished to discourage entry by other firms it could produce the output level at which it earns only a zero economic profit. Indicate the price and output level associated with a zero economic profit and label them P 2 and Q 2.

The graph to the right includes a monopolist's demand, marginal revenue, average total cost, and marginal cost curves. 1.) Use the point drawing tool to Indicate the profit-maximizing level of output and price. Label this point 'Point A' 2.) Use the rectangle drawing tool to shade in economic profitsLabel this shaded area 'Profit'. Carefully follow the instructions above, and only draw the required objects.

Will the monopolist produce an output level that is allocatively efficient?

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If variable costs decrease, what will a monopolist do?     a raise prices and reduce output. b lower prices and expand output. c raise prices and expand output. d lower prices and reduce output.

The Mamas and the Papas, a monopolist, faces a constant marginal cost of $3 of producing cashews. If it believes the elasticity of demand for cashews is -4, calculate the price it should charge for its product.    Write answer explicitly