Suppose a monopoly's price is $60.00 and its marginal cost of production is $48.00 What is...
Suppose a monopoly's price is
$60.00
and its marginal cost of production is
$48.00
What is the firm's markup
?
The monopoly's markup is
percent. (Enter a numeric response using a real number rounded to two decimalplaces.)
Homework Answers
Firms markup= P-MC = 60-48 = 12
The monopoly's Markup is (P-MC)*100/MC = 12*100/48 = 25
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