Connect Problem CP $11-07($algo$)$

Suppose a monopolist's profit$-$maximizing output is $500$ units per week and that the firm sells its output at a price of $$50$ per unit. The firm has total costs of $$7,000$ per week. Assume the monopolist is maximizing its profit and earns $$35$ per unit from the sale of the last unit produced each week.

Instructions: Enter your answers as a whole number.

What are the firm's weekly economic profits?

$

What is the firm's marginal cost?

$

What is the firm's average total cost?

$