ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Question
What is numbers 1-5?
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Title
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The accompanying figure shows the demand curve, marginal revenue curve, marginal
cost curve and average total cost curve for a monopolist.
30
28
26
24
22
20
18
16
ATC
14
12
10
8
MC
6
4 f
MR
2
0
0
10
8
9
7
3
4
12
Quantity (units/day)
1) This monopolist maximizes its profit by producing
charging a price of
units per day and
per unit.
units per day
2) The socially optimal level of output is
3) At this monopolist's profit-maximizing level of output what is its economic
profit or loss?
4) At his monopolist's socially optimal level of output, what is its economic profit
or loss?
At this monopolist's profit-maximizing level of output what the deadweight
5)
loss to society?
MOC
IIII
Price (S/unit)
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