Currently, a monopolist's profit-maximizing output is
300
units per week. It sells its output at a price of
$65
per unit and collects
$45
per unit in revenues from the sale of the last unit produced each week. The firm's total costs each week are
$8,500.
Given this information, the firm's maximized weekly economic profits are
$
What is the firm's marginal cost?
$
c. What is the firm's average total cost?
(Enter your response as a whole number.)
Currently, a monopolist's profit-maximizing output is 300 units per week. It sells its output at a...
Currently, a monopolist's profit-maximizing output is 200 units per week. It sells its output at a price of $60 per unit and collects $30 per unit in revenues from the sale of the last unit produced each week. The firm's total costs each week are $7500. Given this information, the firm's maximized weekly economic profits are What is the firm's marginal cost? $ c. What is the firm's average total cost? (Enter your response as a whole number.)
Currently, a monopolist’s profit-maximizing output is 200 units per week. It sells its output at a price of $60 per unit and collects $35 per unit in revenues from the sale of the last unit produced each week. The firm’s total costs each week are $9,000. Given this information, what is the firm’s maximized weekly economic profits? What is the firm’s marginal cost?
Connect Problem CP 12-7 (algo) Currently, a monopolist's profit-maximizing output is 400 units per week and it sells its output at a price of $60 per unit. The firm's total costs are $10,000 per week. The firm is maximizing its profit, and it earns $40 in extra revenue from the sale of the last unit produced each week. Instructions: Enter your answers as whole numbers a. What are the firm's weekly economic profits? b. What is the firm's marginal cost?...
A monopolist's maximized rate of economic profits is $1,400 per week. Its weekly output is 700 units, and at this output rate, the firm's marginal cost is $36 per unit. The price at which it sells each unit is $51 per unit. At these profit and output rates, the firm's average total cost is $49. (Enter your response as a whole number.) At these profit and output rates, the firm's marginal revenue is $____. (Enter your response as a whole...
A monopolist's maximized rate of economic profits is $1,400 per week. Its weekly output is 700 units, and at this output rate, the firm's marginal cost is $23 per unit. The price at which it sells each unit is $33 per unit. At these profit and output rates, the firm's average total cost is $ (Enter your response as a whole number.) At these profit and output rates, the firm's marginal revenue is $ (Enter your response as a whole...
A monopolist's maximized rate of economic profits is $400 per week. Its weekly prioe at which it sells each unit is $34 per unit output is 200 units, and at this output rate, the firm's marginal cost is $19 per unit. The A these proft and output rates, the firm's average total cost is sl (Enter your response as a whole number) At these p At these profit and output rates, th frm's marginal revenue is I-(Enter your response as...
please answer asap This Question: 1 pt 14 of 48 (11 complete) This Test A monopolist's maximized rate of economic profits is $200 per week. Its weekly output is 200 units, and at this output rate, the firm's marginal cost is $25 per unit. The price at which it sells each unit is $40 per unit. Al these profit and output rates the firm's average total cost is $(Enter your response as a whole number) At these profit and output...
Bouc Amonopols macimized rate of economic profits is $300 per week its weekly output 300 un, and at this output rote the firm's marginal cost $24 per unit. The price at which so At these profit and put the firm's verge total cost Enter your de s a whole number each unit is $30 per unit.
(Table: Monopolist) Refer to the table. What is the monopolist's profit-maximizing level of output? Output Total Revenue Marginal Cost 1 $20 $10 2 10 3 70 10 4 80 10 5 85 10 6 88 10 7 90 10 50
To maximize profit, a price taker will expand its output as long as the sale of additional units adds more to revenues (marginal revenues) than to costs (marginal costs). Therefore, the profit-maximizing price taker will produce the output level at which marginal revenue (and price) equals marginal cost. In a price-taker market, if a business produces efficiently (i.e., that is, where marginal revenues = marginal costs), the firm will be able to make at least a normal profit. True of...