Figure 8.7 -Refer to Figure 8.7.Use the Figure Above to Answer the to Answer

question 94

Essay

Figure 8.7
-Refer to Figure 8.7.Use the figure above to answer the following questions.
a.What is the profit-maximising quantity and what price will the monopolist charge?
b.What is the total revenue at the profit-maximising output level?
c.What is the total cost at the profit-maximising output level?
d.What is the profit?
e.What is the profit per unit (average profit)at the profit-maximising output level?
f.If this industry was organised as a perfectly competitive industry,what would be the profit-maximising price and quantity?
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