Total Output 1 Marginal Revenue Average Total Cost Marginal Cost Price $100 $100 $100.00 $30 90 80 63.00 26 80 60 52.67 32 4. 70 40 49.50 40 60 20 49.60 50 50 50.00 52 40 -20 52.29 66 8. 30 -40 55.75 80 9 20 -60 60.67 100 10 10 -80 67.60 130 Refer to the table above for a pure monopolist. The profit-maximizing price for this monopolist is: $ 60 $90 $70 $80

Tangy Tangerines is a monopolistic firm in the market for tangerines. The following equations describe the demand for, and the cost of producing tangerines, where Q is output measured in thousand pounds, and P is price per pound. Demand: P 59-3Q Marginal Cost: MC = 3 + Q Total Cost: TC = 4 + 3Q+0.50² The monopolist will charge what price and earn what profit? Price $35 and Profit-$220 thousand. Price $19 and Profit $53 thousand. * Price $8 and Profit=$220 thousand. Price $19 and Profit= $14 thousand.

Please refer to the graph attached. The graph shows the Demand, Marginal Revenue, and Marginal Cost curves for a monopolist. Which area shows total surplus under monopoly and which area shows dead weight loss?

The table below presents the demand schedule and marginal costs facing a monopolist producer. MC ($) P ($) TR ($) MR ($) 0 10.05 Q e 1 2 3 4 5 6 7 8 9 10 9.05 8.05 7.85 6.05 5.05 4.05 3.05 2.05 1.05 0 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 a. Fill in the total revenue and marginal revenue columns. Instructions: Round your answers to two decimal places and include a negative sign if appropriate. Leave no cells ank. Enter O if appropriate. b. What is the profit-maximizing level of output? Instructions: Round your answers to the nearest whole number. units. c. What price will the monopolist charge for the quantity in part b? Instructions: Round your answers to the nearest whole number. per unit.