Homework Answers
Profit maximizing condition for a monopolist:MR=MC
A.The monopolist is in equilibrium when 250 units are produced.
MR=MC=64
B.Profit=TR-TC
TR=PQ
TR=73*250=18,250
TC=ATC*Q
TC=87.50*250=21,875
Profit=18,250-21,875
Profit=-3,625
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