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Author Question: Suppose a single-price monopolist knows the following information:PriceQuantityTRMRFixed ... (Read 36 times)

Caileynorton

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Question 1

Suppose a single-price monopolist knows the following information:

PriceQuantityTRMRFixed CostTCATCMC
$9.001500$4.00$7000$7.00$5.00

The total profit being earned by this firm at the current level of output is
◦ $10 500.
◦ $6500.
◦ $1500.
◦ $13 500.
◦ $3000.

Question 2

Suppose a single-price monopolist knows the following information:

PriceQuantityTRMRFixed CostTCATCMC
$5.002000$4.00$2000$5.00$3.00

The monopolist could maximize profits in the short run by
◦ raising price and lowering output.
◦ staying at the current price and output.
◦ lowering price and increasing output.
◦ lowering price and leaving output unchanged.
◦ shutting down.


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Marked as best answer by Caileynorton on Oct 12, 2022

bball_babe_123

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Caileynorton

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Reply 2 on: Oct 12, 2022
Excellent


gcook

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

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