Table 15-6 A monopolist faces the following demand curve: Quantity Price 1 $15 2 $12 3...
Table 15-6
A monopolist faces the following demand curve:
|
Quantity |
Price |
|
1 |
$15 |
|
2 |
$12 |
|
3 |
$9 |
|
4 |
$6 |
|
5 |
$3 |
Refer to Table 15-6. Suppose the monopolist has total fixed costs equal to $5 and a variable cost equal to $4 per unit for all units produced. What is the total profit if she operates at her profit-maximizing price?
| a. |
$11 |
|
| b. |
$9 |
|
| c. |
$1 |
|
| d. |
$7 |
Homework Answers
Total variable cost = 4 x Units
Total cost = Total fixed cost + Total variable cost
Total revenue = Price x Quantity
Profit = Total revenue - total cost
Profit maximizing price is $ 12 and profit at this price is $ 11.
So, answer is a) $ 11
Add Answer to:
Table 15-6
A monopolist faces the following demand curve:
Quantity
Price
1
$15
2
$12
3...
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