Use the graph at right to answer the following questions. What is the monopolist's profit-maximizing output? At the profit-maximizing output rate, what is the average total cost? $ At the profit-maximizing output rate, what is the average revenue? $ At the profit-maximizing output rate, what is the monopolist's total cost? $☐ . At the profit-maximizing output rate, what is the monopolist's total revenue? $ What is the maximum profit? S☐

ECON MICRO
5th Edition
ISBN:9781337000536
Author:William A. McEachern
Publisher:William A. McEachern
Chapter9: Monopoly
Section: Chapter Questions
Problem 3.4P
Question

please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly

Use the graph at right to answer the following questions.
What is the monopolist's profit-maximizing output?
At the profit-maximizing output rate, what is the average
total cost? $
At the profit-maximizing output rate, what is the average
revenue? $
At the profit-maximizing output rate, what is the
monopolist's total cost? $☐ .
At the profit-maximizing output rate, what is the
monopolist's total revenue? $
What is the maximum profit? S☐
Transcribed Image Text:Use the graph at right to answer the following questions. What is the monopolist's profit-maximizing output? At the profit-maximizing output rate, what is the average total cost? $ At the profit-maximizing output rate, what is the average revenue? $ At the profit-maximizing output rate, what is the monopolist's total cost? $☐ . At the profit-maximizing output rate, what is the monopolist's total revenue? $ What is the maximum profit? S☐
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