marks mineral springs is a single price monopoly. The table shows the demand sch
ID: 1188231 • Letter: M
Question
marks mineral springs is a single price monopoly.
The table shows the demand schedule for mark's mineral springs (colmun 1 and 2)and the frim's totak cost schedule( column 2& 3).
PRICE QUANTITY TOTAL COST
dollar er dollar dollar per hour bottles per hour
1 4 0 1
13 1 12
12 2 25
11 3 40
1 0 4 57
9 5 76
What is Mark's profit mamimiing out put price ,and ecnomic profit?
MARKS PROFIT MAXIMIZING OUT PUT IS $................BOTTELS AN HOUR?
MARKS PROFIT MAXIMIZING PRICE IS $............... A BOTTELE?
WHEN MARK'S PRODUCES THE PROFIT MAXIMIING OUT PUT AND CHARGES THE PROFIT MAXIMIZING PRICE, ECNOMICPROFIT IS $ ............... AN HOUR ?
Explanation / Answer
MARKS PROFIT MAXIMIZING OUT PUT IS 1 BOTTLE AN HOUR
MARKS PROFIT MAXIMIZING PRICE IS $13 A BOTTLE
WHEN MARK'S PRODUCES THE PROFIT MAXIMIING OUTPUT AND CHARGES THE PROFIT MAXIMIZING PRICE, ECNOMICPROFIT IS $ 1 AN HOUR
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