(Using the information in Figure #2). A monopolist would maximize profit by producing units. a. 4b. 2c. 3 d. 1

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The figure on the right shows the demand schedule for a product produced by a single-price monopolist. Price ($) 10 987654 Quantity demanded A. 9; 10; -1 B. 40; 45; 5 C. 36; 41; 5 D. 5; 4; 1 E. 15; 15; 0 4 567892 10 Using the graph on the right, suppose this single-price monopolist is initially selling 4 units at $10 each and then reduces the price of the product to $9. By making this change, the firm is giving up revenue of Its and gaining revenue of marginal revenue is therefore (All figures are dollars.) Price ($) 141 13- 12- 11- 10- 9- 6- 5- 4- 3- 2- 1- -N 4 5 6 7 8 9 10 11 12 13 14 15 16 Quantity Q Q

Ch09-10 S11 (33-40) 6:06 The Monopolist view of Total Revenue, Average Revenue, and Marginal Revenue. BUS Ch9 10 The Monopolist view of Total Revenue, Average Revenue, and Marginal Revenue. 33. The demand curve the monopolist faces is the firm's AR curve. 34. TR, = P,"Q 35. AR, = P, Q,/Q, = P, 36. What is the relationship between marginal values and average values? 37. As Q t: If MR>AR then AR 1, 38. As Q t: If MR< AR then AR L; 39. What is AR doing as Q 1 ?? 40. What is the implication of MR-0P ID 5:12/5:40 YouTube 65. In the video, the graph indicates that firm's average revenue curve is the market Select one: a. demand curve Ob. supply curve O c. equilibrium Check

3 6 A10. REFER TO FIGURE 4 The price charged by the profit-maximising monopolist is: a. 14 b. 12 c. 8 d. 6 e. 3 Market Price 12 14 42 8 00 30 35 MR 50 في (၂ LRMC AR AR LRAC Quantity Demanded

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Use the graph below to find the monopolists equilibrium quantity and price. 40 26.67 MC ATC 20 13.33 33.33 66.67 100 50 MR Textbools per week What is this monopolists profit maximizing quantity? Simply select the correct quantity from the dropdown box. I Select] What price will the monopolist charge to maximize profits? Simply select the correct number from the dropdown box. [Select ]