Total Output Price Total Revenue Marginal Revenue Avera…
Total Output Price Total Revenue Marginal Revenue Average Total Cost Marginal Cost 1 $ 100 $ 100.00 $ 30 2 90 63.00 26 3 80 52.67 32 4 70 49.50 40 5 60 49.60 50 6 50 50.00 52 7 40 52.29 66 8 30 55.75 80 9 20 60.67 100 10 10 67.60 130 Refer to the data above for a nondiscriminating monopolist. a) List TR and MR (fill in the table) for each level of output (Q) b) What level of output should the monopolist produce? Using the profit-maximizing rule for the firm to explain. c) Is this monopolist earning profit? Do all monopoly’s make a profit? Why or why not?