Does a monopolist make a profit in the long-run?

Farmer Brown grows blackberries in a perfectly competitive market. The average total​ cost, average variable​ cost, and marginal cost of growing blackberries for an individual farmer are illustrated in the graph below.   Farmer Brown will incur losses if the market price falls below $___ per crate. Furthermore, farmer Brown should shut down in the short run if the market price falls below $____ per crate.

What is pictured in the graph below?

You quit your job where you earned $45,000 a year to start your own widget business. To start your business, you cashed in your investments of $50,000 which earned you 10% a year in interest.  In the first year, you sold 10,000 widgets at $50 per unit.  Of that $50 per unit, $45 went towards production costs; materials, utilities, labor, marketing, packaging, lease payments, etc.    Refer to the above information. Your total revenues for the first year are:

Rick is a potato farmer, and the world potato market is perfectly competitive. The market price is $18 a basket. Rick sells 700 baskets a week. His marginal cost is $23 a basket.   Is Rick maximizing profit? Why or why not?

Which kind of firm tends to sell a product for a higher price?  

You quit your job where you earned $45,000 a year to start your own widget business. To start your business, you cashed in your investments of $50,000 which earned you 10% a year in interest.  In the first year, you sold 10,000 widgets at $50 per unit.  Of that $50 per unit, $45 went towards production costs; materials, utilities, labor, marketing, packaging, lease payments, etc.    Refer to the above information. Your explicit costs for the first year are:

What is a “fixed cost?”

Antitrust laws are intended to  

Based on the graph below, compared to perfect competition, a profit-maximizing monopolist would change output by ______ and price by ________.