P | Q | TR | MR |
115 | 0 | 0 | |
100 | 1 | 100 | 100 |
83 | 2 | 166 | 66 |
71 | 3 | 213 | 47 |
63 | 4 | 252 | 39 |
55 | 5 | 275 | 23 |
48 | 6 | 288 | 13 |
42 | 7 | 294 | 6 |
37 | 8 | 296 | 2 |
33 | 9 | 297 | 1 |
29 | 10 | 290 | -7 |
b) Setting MC=MR, the profit maximizing price = 55
output = 5
c) Profits = P-ATC*Q = (55-49)*5 = 30
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown...
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