Fernando has a monopoly on sales of pizzas in the small town of North Key Largo, Florida.
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Question:
Fernando has a monopoly on sales of pizzas in the small town of North Key Largo, Florida. Use the following information on the demand for Fernando's pizzas to answer the questions:
Price | Quantity Demanded |
$30 | 0 |
25 | 1 |
20 | 2 |
15 | 3 |
10 | 4 |
5 | 5 |
0 | 6 |
If Fernando can produce pizzas at a constant cost of $5 per pizza, he will produce
nothing
pizzas, and charge
$nothing
per pizza. He makes a profit of
$nothing.
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