Suppose a monopolist's profit-maximizing output is 400 units per week and that the firm sells its output at a price of $60 per unit. Th firm has total costs of $10,000 per week. Assume the monopolist is maximizing its profit and earns $40 per unit from the sale of the last unit produced each week. Instructions: Enter your answers as a whole number. a. What are the firm's weekly economic profits? $ b. What is the firm's marginal cost? 2$ c. What is the firm's average total cost? 2$

Suppose a monopolist's profit-maximizing output is 400 units per week and that the firm sells its output at a price of $60 per unit. Th firm has total costs of $10,000 per week. Assume the monopolist is maximizing its profit and earns $40 per unit from the sale of the last unit produced each week. Instructions: Enter your answers as a whole number. a. What are the firm's weekly economic profits? $ b. What is the firm's marginal cost? 2$ c. What is the firm's average total cost? 2$

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter8: Monopoly

Section: Chapter Questions

Problem 5SQ

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Currently, a monopolist's profit-maximizing output is 400 units per week and it sells its output at a price of S60 per unit. The firm's total costs are $10,000 per week. The firm is maximizing its profit, and it earns $40 in extra revenue from the sale of the last unit produced each week. a. What are the firm's weekly economic profits? b. What is the firm's marginal cost? c. What is the firm's average total cost?
Currently, a monopolist’s profit-maximizing output is 400 units per week and it sells its output at a price of $60 per unit. The firm’s total costs are $10,000 per week. The firm is maximizing its profit, and it earns $40 in extra revenue from the sale of the last unit produced each week. a. What is firm's ATC.
Currently, a monopolist’s profit-maximizing output is 400 units per week and it sells its output at a price of $60 per unit. The firm’s total costs are $10,000 per week. The firm is maximizing its profit, and it earns $40 in extra revenue from the sale of the last unit produced each week. a. What are the firm's weekly economic profits?
Suppose a monopolist’s profit-maximizing output is 200 units per week and that the firm sells its output at a price of $60 per unit. The firm has total costs of $9,000 per week. Assume the monopolist is maximizing its profit and earns $30 per unit from the sale of the last unit produced each week. a. What are the firm's weekly economic profits? $ b. What is the firm's marginal cost? $ c. What is the firm's average total cost?
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Currently, a monopolist’s profit-maximizing output is 400 units per week and it sells its output at a price of $60 per unit. The firm’s total costs are $10,000 per week. The firm is maximizing its profit, and it earns $40 in extra revenue from the sale of the last unit produced each week. a. What are the firm's MC.
A monopolist serves a market with five potential buyers, each of whom would buy at most one piece of the monopolist's good. Anna would be willing to pay up to £80 for it, Bob up to £90, Chloe up to £100, Dave up to £110 and Elizabeth up to £120. The monopolist's variable cost function is given in below table. Quantity Variable Costs 1 3. 4. 40 90 150 220 300 Price Marg. Revenue a) Indicate in the table which price the monopolist would want to charge for each given quantity. b) Find the marginal revenue for each quantity. c) Find the monopolist's profit maximising price under the assumption that he wants to produce anything at all. d) How large can the monopolist's fixed costs be such that he still wants to start producing at 1. D Focus 9°C Sun
A monopolist serves a market with five potential buyers, each of whom would buy at most one piece of the monopolist’s good. Anna would be willing to pay up to £80 for it, Bob up to £90, Chloe up to £100, Dave up to £110 and Elizabeth up to £120. The monopolist’s variable cost function is given in below table: Quantity 1 2 3 4 5 Variable Costs 40 90 150 220 300 Price Marg. Revenue a) Indicate in the table which price the monopolist would want to charge for each given quantity. [10% of points] b) Find the marginal revenue for each quantity. [10% of points] c) Find the monopolist’s profit maximising price under the assumption that he wants to produce anything at all. [10% of points] d) How large can the monopolist’s fixed costs be such that he still wants to start producing at all? [10% of points] I beg my bros, can you answer this for me, its been a rough day and im just a poor student id very much appricate this
A monopolist serves a market with five potential buyers, each of whom would buy at most one piece of the monopolist’s good. Anna would be willing to pay up to £80 for it, Bob up to £90, Chloe up to £100, Dave up to £110 and Elizabeth up to £120. The monopolist’s variable cost function is given in below table. Quantity 1 2 3 4 5 Variable Costs 40 90 150 220 300 Price Marg. Revenue a) Indicate in the table which price the monopolist would want to charge for each given quantity. b) Find the marginal revenue for each quantity.c) Find the monopolist’s profit maximising price under the assumption that he wants to produce anything at all. d) How large can the monopolist’s fixed costs be such that he still wants to start producing at all?
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Currently a monopolist's profit maximizing output is 400 units per week and it sells output at price of $60 per unit. The total cost of the form are $10,000 per week. The firm is maximizing it's profit and it earns $40 in extra revenue from the sale of the last unit. Calculate the profit.