Accessible description: The figure indicates on the y-axis p…
Accessible description: The figure indicates on the y-axis price and cost (dollars per unit) and quantity on the x-axis (thousands of units per week). Depicted in the figure is a downward sloping marginal revenue curve, which goes through the points (0, 50) at a, (2, 10) at d and (2.5, 0). Also depicted is a downward sloping demand curve, which goes through the points (0, 5) at a, (2, 30) at c, and (5,0). Also depicted is an upward sloping marginal cost curve, which passes through point (2, 10) at d and (3, 20) at e. Marginal cost intersects the marginal revenue curve at point d (2, 10) and the demand curve at e (3, 20). Also labeled are points m (3, 0), b (0, 30), i (0, 20), h (0, 10) and f (0, 0). f1q62g1.jpg In the above figure, if a single-price monopolist charges the profit-maximizing price, the triangle dce represents