A profit-maximizing monopolist charges a price of $12 . The intersection of the marginal revenue and marginal cost curves occurs where output is 10 units and marginal cost is $6 . Average total cost for 10 units of output is $5 . What is the monopolist's profit?
a. $60
b. $70
c. $100
d. $120
b
Economics
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The rate of inflation, excluding the effects of food and energy prices, is _____.
(A) Hyperinflation (B) The core inflation rate (C) The price index (D) The wage-price spiral
Economics
Given the production function Y = A , if an economy's capital per worker k is $27 thousand, and its total factor productivity A is 0.5, then output per worker is (approximately) ________
A) $13,500 B) $40,500 C) $3,000 D) $5,000 E) $1,500
Economics