Currently, a monopolist's profit-maximizing output is 200 units per week. It sells its output at a price of $ 50 per unit and collects $ 25 per unit in revenues from the sale of the last unit produced each week. The firm's total costs each week are$9,500. A) What are the firm's weekly economic profits? B) What is the firm's average total cost?
Currently, a monopolist's profit-maximizing output is 200 units per week. It sells its output at a price of $ 50 per unit and collects $ 25 per unit in revenues from the sale of the last unit produced each week. The firm's total costs each week are$9,500. A) What are the firm's weekly economic profits? B) What is the firm's average total cost?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter23: Monopoly
Section: Chapter Questions
Problem 2WNG
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