What is the monopolist\'s profit under the followingconditions? The profit-maxim

Question

What is the monopolist's profit under the followingconditions? The profit-maximizing price charged for goodsproduced is $12. The intersection of the marginal-revenue andmarginal-cost curves occurs when output is 10 units and marginalcost is $6. Average total cost for 10 units of output is$5. a.$60 b.$70 c.$100 d.$120 What is the monopolist's profit under the followingconditions? The profit-maximizing price charged for goodsproduced is $12. The intersection of the marginal-revenue andmarginal-cost curves occurs when output is 10 units and marginalcost is $6. Average total cost for 10 units of output is$5. a.$60 b.$70 c.$100 d.$120

Explanation / Answer

B. $ 70. Explanation Total revenue ( $ 12 * 10 units )    120 - Total cost    ( $ 5 * 10 units )    (50) Profit ( TR-TC)                           70

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