Dell Company is the only producer of computers in a monopoly market with a total fixed cost
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Question:
Dell Company is the only producer of computers in a monopoly market with a total fixed cost of $80. At the same time, they also need total variable cost, price and quantity as mentioned in the table below
Quantity | Price | Total variable cost |
1 | 120 | 24 |
3 | 105 | 35 |
5 | 98 | 48 |
7 | 84 | 59 |
Required: Apply the monopoly theory to calculate the following
a. The total cost
b. The average total cost
c. The marginal cost
d. The total revenue
e. The marginal revenue
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