Q-6. Following are a Monopolist's Cost and Demand data. Complete the table. Marginal Average Total Marginal...

 

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Q-6. Following are a Monopolist's Cost and Demand data. Complete the table. Marginal Average Total Marginal Profit (+) Loss (-) Total Cost Cost Revenue or Cost (MR) (TC) (MC) (ATC) $10 Quantity Price MC 12 10 7 8 9 10 8 6 Draw the relevant curves and answer questions: MR 20 & 15 14 4 0 1 2 3 4 5 6 2 Total (Average Revenue Revenue) (TR) 0 16 $15 14 13 12 11 10 9 8 7 6 3 4 Quantity 8 $30.00 15.50 10.67 8.25 6.80 6.00 5.57 5.25 5.00 4.80 9 10 (a) Profit Maximizing output? (b) This output will sell at a price (c) What is the Profit at this output? Q-6. Following are a Monopolist's Cost and Demand data. Complete the table. Marginal Average Total Marginal Profit (+) Loss (-) Total Cost Cost Revenue or Cost (MR) (TC) (MC) (ATC) $10 Quantity Price MC 12 10 7 8 9 10 8 6 Draw the relevant curves and answer questions: MR 20 & 15 14 4 0 1 2 3 4 5 6 2 Total (Average Revenue Revenue) (TR) 0 16 $15 14 13 12 11 10 9 8 7 6 3 4 Quantity 8 $30.00 15.50 10.67 8.25 6.80 6.00 5.57 5.25 5.00 4.80 9 10 (a) Profit Maximizing output? (b) This output will sell at a price (c) What is the Profit at this output?

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6 Lets draw the table Quantity Price Average revenue Total revenue Marginal revenue Average cost Tot... View the full answer