Table 10-1 Monopoly Quantity Price Marginal Average Marginal Revenue Total Cost (MR) Cost (MC) (ATC) 1 $720 $720 $720 $420 $300 2 $660 $1320 $600 $350 $280 3 $580 $1740 $420 $300 $200 4 $500 $2000 $260 $350 $500 $420 $2100 $100 $420 $700 $340 $2040 $(60) $510 $960 $260 $1820 $(220) $620 $1280 8 $180 $1440 $(380) $750 $1660 Assuming that the monopoly firm is regulated by average cost pricing, the profit/loss would be: Select one: O a. 600 O b. 840 O c. 620 O d. 0 5 6 7 Total Revenue (TR)
Table 10-1 Monopoly Quantity Price Marginal Average Marginal Revenue Total Cost (MR) Cost (MC) (ATC) 1 $720 $720 $720 $420 $300 2 $660 $1320 $600 $350 $280 3 $580 $1740 $420 $300 $200 4 $500 $2000 $260 $350 $500 $420 $2100 $100 $420 $700 $340 $2040 $(60) $510 $960 $260 $1820 $(220) $620 $1280 8 $180 $1440 $(380) $750 $1660 Assuming that the monopoly firm is regulated by average cost pricing, the profit/loss would be: Select one: O a. 600 O b. 840 O c. 620 O d. 0 5 6 7 Total Revenue (TR)
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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