Exhibit o1 62 t/a MC ATC AVC 20 MR 100 190 260 300 400 Answer questions 46-50 ba

Question

Exhibit o1 62 t/a MC ATC AVC 20 MR 100 190 260 300 400 Answer questions 46-50 based on the graph above; exhibit 0162 59. What is the monopolist profit maximizing price a. b. $25 c. $26 d. $30 60. The profit-maximizing or lo g monopolist's total cost will be a. $3,800 b. $4,940 c. $4,560 d. $5,700 61. What is the monopolist Total Variable Cost a. $4,940 b. $4,560 c. $5,700 d. $3,800 62. What is the monopolist fixed cost. a. $760 b. $-380 c. $380 d. $-760 63. What is the monopolist profit. a-$-760 b. $-380 c. $380 d. $760

Explanation / Answer

Q59
Answer
Monopolist maximize profit at MR=MC
where Q=190 units
the price is found at the quantity, P=$30
option d

Q60
Answer
Option b

at the quantity, the average total cost is $26
Total cost=ATC*Q=26*190=4940

Q61
Answer
Option b

at the given quantity average variable cost is $24
Total variable cost=AVC*Q
=24*190=4560

Q62
Answer
Option Fixed cost=TC-VC
=4940-4560=380
option c

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