Answer
a)
the firm produces at MR=MC
where
Q=100 units and P=10.00 from the demand curve
b)
total revenue =P*Q=10*100=1000
total cost =ATC*Q=7*100=$300
c)
Economic profit =(P-ATC)*Q=(10-7)*100=300
Response Questions Part A To C Answer the following questions on the basis of the monopolist's situation illustrated in...
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