Project #51430 - Economics

1. Problem-solving question: Use the following data for a pure monopoly to calculate the firm’s: (a) total revenue, marginal revenue, marginal costs, and average total cost; (b) its profit-maximizing output level and produce price; (c) its profit. (d) Use the price-cost formula to determine whether or not the firm’s operations are productively-efficient. (e) Use the price-cost formula to determine whether or not the firm’s operations are allocatively efficient. Q (P = AR) TR MR TC MC ATC 0 $120 $100 1 119 200 2 118 280 3 117 340 4 116 380 5 115 400 6 114 460 7 113 560 8 112 665

Subject Mathematics
Due By (Pacific Time) 12/16/2014 12:00 pm
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