PRICE QUANTITY DEMANDED LRAC 50 1 10$ 35 2 20$ 20 3 24$ 5 4 37.50$ The table above shows demand and average total cost for a natural monopoly firm. What will the price will this firm charge? A 20   B 50    C 35   D 5                     Question 2    Based on the graph above, find the profit maximizing price and quantity for this monopoly firm.     Question 14 options:   $36 and 200 units   $36 and 300 units   $48 and 200 units   $60 and 100 units

Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter5: Buying The Necessities
Section: Chapter Questions
Problem 20AA
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PRICE

QUANTITY DEMANDED LRAC
50 1 10$
35 2 20$
20 3 24$
5 4 37.50$

The table above shows demand and average total cost for a natural monopoly firm. What will the price will this firm charge?

A 20
 
B 50 
 
C 35
 
D 5
 
 
 
 
 
 
 
 
 
 
Question 2 
 

Based on the graph above, find the profit maximizing price and quantity for this monopoly firm.

 

 
Question 14 options:
 

$36 and 200 units

 

$36 and 300 units

 

$48 and 200 units

 

$60 and 100 units

Price
$72
Marginal Cost
$60
$48
$36
$24
$12
Marginal
Demand
Revenue
100
200
300
400
500
600
Quantity
Transcribed Image Text:Price $72 Marginal Cost $60 $48 $36 $24 $12 Marginal Demand Revenue 100 200 300 400 500 600 Quantity
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ISBN:
9780078747663
Author:
McGraw-Hill
Publisher:
Glencoe/McGraw-Hill School Pub Co