Complete the following statements (blanks) based on the table below which shows the hourly cost and revenue fora pure monopolist.Each correct answer is worth one mark.

QuantityPriceMRMCATC

(Units)($)($)($)($)

17.607.605.807.80

27.206.804.806.30

36.806.003.805.47

46.405.202.604.75

56.004.402.004.20

65.603.601.203.70

75.202.801.603.40

84.802.002.003.20

94.401.203.203.20

104.000.404.003.28

113.60-0.406.803.60

123.20-1.2010.204.15

_______________________________________________________________________

A) Total economic profit is maximized when quantity (output level) is _________ Units

B) The price the monopolist will charge in order to maximize profit is $ ________

C) At the profit maximizing price and quantity, total economic profit is $ _________

D) If this monopolist is could practice perfect price discrimination, it would maximize total profit byselling _________ units and its total economic profit would be $__________

E) Suppose this monopolist is now regulated. According to the "socially Optimum Pricing Rule," theprice would be set at $ ________, the quantity produced would be ________units, and theresulting economic profit would be $ __________

F) If the regulated monopolist is required to apply the "Fair Return Price," or the "Average CostPricing." The price would be set at $ ________, the quantity produced would be ________units,