Refer to Table 15-6. Suppose the monopolist has total fixed costs equal to $5 and a variable
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Refer to Table 15-6. Suppose the monopolist has total fixed costs equal to $5 and a variable cost equal to $4 per unit for all units produced. What is the total profit if she operates at her profit-maximizing price?
| | a. | $11 |
| | b. | $9 |
| | c. | $1 |
| | d. | $7 |
Table 15-6
A monopolist faces the following demand curve:
| Quantity | Price |
| 1 | $15 |
| 2 | $12 |
| 3 | $9 |
| 4 | $6 |
| 5 | $3 |
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