The table below shows price and quantity demanded for a market in which there is a single (monopoly) firm, as well as marginal cost. Use the information in the table to find the monopolist's optimal price and quantity. Price Quantity Marginal Cost $100 0 -- $90 1 7 $80 2 15 $70 3 24 $60 4 30 $50 5 42 $40 6 56 $30 7 62 $20 8 75 $10 9 97 The monopolist will charge a price of $ and produce a quantity of units.
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This is achieved where the Marginal Revenue (MR) equals the Marginal Cost (MC). However, the table does not provide Marginal Revenue directly, so we need to infer it from the given information about price and quantity demanded. Show more…
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The table below shows price and quantity demanded for a market in which there is a single (monopoly) firm, as well as marginal cost. Use the information in the table to find the monopolist's optimal price and quantity. Price $100 $90 $80 $70 $60 $50 $40 $30 $20 $10 Quantity 0 1 2 3 4 5 6 7 8 9 Marginal Cost -- 7 15 24 30 42 56 62 75 97 The monopolist will charge a price of $ and produce a quantity of units.
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The table below shows the marginal revenue and costs for a monopolist Demand,Costs,and Revenues Price (dollars) Quantity Demanded Marginal Revenue (dollars) Marginal Cost (dollars) Average Total Cost (dollars) $85 50 $85 $25 $139.00 79 150 76 85 103.30 73 250 64 64 87.50 67 350 52 61 80.00 61 450 40 67 77.00 55 550 28 77 77.00 Instructions Enter your answer as a whole number lf you are entering a negative number include a minus sign a What is the monopolist's profit-maximizing level of output? units b.What is the monopolist's profit at the profit-maximizing level of output $
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