Optinal condition for profit maximization quantity: MR=MC
From figure the monopolistic firm will produce Q=200 unit
For Q=200 units corresponding price (P)= $25
Total revenue =P*Q=$25*200=$5000
Total cost =MC*Q=$15*200=$3000
Profit=Total revenue - Total cost =$5000-$3000=$2000
Answer: $2,000
U Question 7 1 pts The figure below depicts the demand, marginal revenue, and marginal cost...
Figure 15-7 The figure below depicts the demand, marginal revenue, and marginal cost curves of a profit- maximizing monopolist. Price $40 30 20 Marginal Cost Demand 10 Margina Revenue 100 200 300 400 Quantity Refer to Figure 15-7. If fixed costs of production = $1,000, monopoly profit without price discrimination equals o $2,000. O $500 O $4,000. $1,000.
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