# Question 1Suppose there is only one supplier in the market of product X. The following table showspartial information of product X and the supplier's cost.Marginal CostPriceQuantity\$1,7001,5001,4001,3001,2001,1001,00001380239034104305460650090075508006108700977060010790A. Determine the supplier's profit-maximizing output quantity. Explain your answer.B. At what price should the supplier charge to maximize its profit? Explain youranswer.C. Suppose at the profit-maximizing output quantity you have determined in part A,the average variable cost is \$428.33 and the average total cost is \$628.33.Calculate the total profit at the profit-maximizing output quantity

Question
352 views

check_circle

star
star
star
star
star
1 Rating
Step 1

There is only one supplier in the market of product X. since given market is monopoly.

b.

In monopoly, the equilibrium price is determine by finding the profit maximizing level of output that ...

### Want to see the full answer?

See Solution

#### Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in