01 May Question: Output Price Marginal Cost 100 7.50 0.50 200 7 1.50 300 6.50 2.50 400 6 3.50 500 5.50 5…
| Output | Price | Marginal Cost |
| 100 | 7.50 | 0.50 |
| 200 | 7 | 1.50 |
| 300 | 6.50 | 2.50 |
| 400 | 6 | 3.50 |
| 500 | 5.50 | 5.50 |
| 600 | 5 | 6.50 |
Please consider the above data for a monopolist. At which output level does the monopolist maximize its profits (or minimize its losses)?
At an output of 500
At an output of 400
At an output of 300
At an output of 200
At an output of 600
Part b:
| Output | Price | TR | MR | TC | MC |
| 0 | $18 | $0 | – | $400 | – |
| 100 | 17 | 1,700 | $17 | 1,900 | $15 |
| 200 | 16 | 3,200 | 15 | 2,900 | 10 |
| 300 | 15 | 4,500 | 13 | 3,500 | 6 |
| 400 | 14 | 5,600 | 11 | 4,000 | 5 |
| 500 | 13 | 6,500 | 9 | 4,600 | 6 |
| 600 | 12 | 7,200 | 7 | 5,350 | 7.50 |
| 700 | 11 | 7,700 | 5 | 6,150 | 8 |
| 800 | 10 | 8,000 | 3 | 7,300 | 13 |
| 900 | 9 | 8,100 | 1 | 9,300 | 20 |
Please consider the above table with cost and revenue data for a monopoly firm. The above monopolist will maximize profits at output:
500
200
400
600
700
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