Consider the following table, which provides price, revenue, and cost information for a monopolist. Quantity Price (P) Total Marginal Total cost Marginal (2) revenue revenue (TC) cost (MC) (TR) (MR) 0 68 40 1 64 72 2 2345678 60 92 56 100 52 108 48 112 44 128 40 160 36 200 9 32 256 10 28 320 The profit-maximizing price for the monopolist is $ 48
Consider the following table, which provides price, revenue, and cost information for a monopolist. Quantity Price (P) Total Marginal Total cost Marginal (2) revenue revenue (TC) cost (MC) (TR) (MR) 0 68 40 1 64 72 2 2345678 60 92 56 100 52 108 48 112 44 128 40 160 36 200 9 32 256 10 28 320 The profit-maximizing price for the monopolist is $ 48
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter14: Indirect Price Discrimination
Section: Chapter Questions
Problem 6MC
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