Suppose that BYOB charges $$2\mathrm{.}00$ per can. Your friend Gilberto says that since BYOB is a monopoly with market power, it should charge a higher price of $$2\mathrm{.}25$ per can because this will increase BYOB's profit.

Complete the following table to determine whether Gilberto is correct.

Price

Quantity Demanded

Total Revenue

Total Cost

Profit

$($Dollars per can$)$

$($Cans$)$

$($Dollars$)$

$($Dollars$)$

$($Dollars$)$

$2\mathrm{.}001,000$

$2,000\mathrm{.}00$

$2\mathrm{.}25750$

$1,687\mathrm{.}50$ find total cost