A monopolist has the market demand and marginal cost schedules ...

[09madisonrousseau09]

A monopolist has the market demand and marginal cost schedules given in the above table. If the monopoly can perfectly price discriminate, what is the profit-maximizing level of output and price?
 
  What will be an ideal response?

Question 2

The law of supply states that, other things remaining the same, firms produce
 
  A) more of a good the less it costs to produce it.
  B) less of a good the more it costs to produce it.
  C) more of a good the higher its price.
  D) less of a good as the required resources become scarcer.

[blakcmamba]

Answer to Question 1

As a perfectly price discriminating monopoly, the profit-maximizing level of output is 4 units and the price ranges from 22 to 16 for each unit.

Answer to Question 2

C

[09madisonrousseau09]

TYSM

[rachel]

Great answer, keep it coming