To maximum profit, the monopolist must produce units of output and change a pric

Question

To maximum profit, the monopolist must produce units of output and change a price of At the profit maximizing level of output, the monopolist is making economic profit of: Suppose that the monopolist experiences an increases in the demand for its product. As a result: Suppose that Southern Cable Company is a monopolist in the market for cable TV services in the rural town of Smiths burg. Virginia. If the market wage rate of the technicians it employees increases ceteris paribus, then this firm will:

Explanation / Answer

30) In case of monopolist, equilibrium is where MR =MC

Answer is (b), Equilibrium quantity = 300, equilibrium price =$10

31) Economic profit = 10(300) - 3(300) = $2100

32) a) Both price and quantity will increase

33) c) Charge higher price and make same profits

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