NAME: (Minus 2 points if blank) EXAM 2 MICRO SUMMER B 2021 Price/Cost/Revenue MARGINAL COST 8 A W N Quantity 10 20 30 40 50 60 70 80 90 100 110 120 For a monopolist modeled above: 1 . Label the curves on the graph. (3 points) 2. What is the profit maximizing (loss minimizing) level of production? (3 points) Morgmol veve 40 = Morg cost? 3. What is the price the monopolist will be able to charge? (3 points) 1. 238 4 How much profit or loss will the monopolist make? (3 points) revenue 4 x 40 = 160 $ 80 profit cost 2 x 40 = 00 5 If fixed costs were increase by $2, what would be the profit maximizing level of production? (3 points) / 15