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A monopolist has the following fixed and variable costs:
Price
Quantity
Fixed Cost
Variable Cost
Total Cost
Marginal Cost
Total Revenue
Marginal Revenue
$10
0
$8
$0
$9
1
$8
$5
$8
2
$8
$8
$7
3
$8
$10
$6
4
$8
$11
$5
5
$8
$13
$4
6
$8
$16
$3
7
$8
$20
$2
8
$8
$25
Complete the above table.
A monopolist has the following fixed and variable costs:
| Price | Quantity | Fixed Cost | Variable Cost | Total Cost | Marginal Cost | Total Revenue | Marginal Revenue |
| $10 | 0 | $8 | $0 | ||||
| $9 | 1 | $8 | $5 | ||||
| $8 | 2 | $8 | $8 | ||||
| $7 | 3 | $8 | $10 | ||||
| $6 | 4 | $8 | $11 | ||||
| $5 | 5 | $8 | $13 | ||||
| $4 | 6 | $8 | $16 | ||||
| $3 | 7 | $8 | $20 | ||||
| $2 | 8 | $8 | $25 |
Complete the above table.
Mahe AlamLv10
19 Jan 2021
Related textbook solutions
Related questions
| Demand Data | Cost Data | ||
| Price | Quantity Demanded | Output | Total Cost |
| 5.5 | 3 | 3 | 5 |
| 5 | 4 | 4 | 6 |
| 4.5 | 5 | 5 | 6.5 |
| 3.85 | 6 | 6 | 7.5 |
| 3.35 | 7 | 7 | 9 |
| 2.90 | 8 | 8 | 11 |
| 2.5 | 9 | 9 | 14 |
From the monopoly data given above, compute the following for each level of output.
1) total revenue.
2) marginal revenue.
3) average costs
4) marginal cost.
5) the profit maximizing profit level of output. the q that maximizes profit.
6) the profit maximizing price.
7) the total level of profits at the profit maximizing output level.
Table 15-10 The monopolist faces the following demand curve:
| Price | Quantity |
| $10 | 5 |
| $9 | 10 |
| $8 | 16 |
| $7 | 23 |
| $6 | 31 |
| $5 | 45 |
| $4 | 52 |
| $3 | 60 |
Refer to Table 15-10. If the monopolist has total fixed costs of $40 and a constant marginal cost of $5, what is the profit-maximizing level of output?
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