Question: $10 $9 $8 $7 $6 $5 $4 $3 $2 $1 $0 MC ATC Demand MR 150 300 350 400 Quantity per day (4 points) a.

$10 $9 $8 $7 $6 $5 $4 $3 $2 $1 $0

$10 $9 $8 $7 $6 $5 $4 $3 $2 $1 $0 MC ATC Demand MR 150 300 350 400 Quantity per day (4 points) a. Refer to the graph above, what quantity should this monopoly firm produce to maximize profit and why? b. Refer to the graph above, what price should this firm charge to maximize profit? c. Refer to the graph above. Would this firm earn profit, operate at loss or shut down? Why? d. Calculate the firm total profit or loss TR = Profit/Loss = d. If the firm from above is earning short-run profit, what will happen in the long-run? Explain

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