Econ 111 principles of economics- accelerated treatment -, Microeconomics

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Econ 111 principles of economics- accelerated treatment -

Econ 111: Principles of Economics- Accelerated Treatment - Quiz 5

A monopolist is facing a linear demand curve of Q = 200 - 2P, and MC= AC = 20.

a) Graph the average revenue (AR), marginal revenue (MR), and marginal cost (MC) curves for this monopolist. Make sure you mark all intercepts on your graph.

b) Which output quantity, Q*, maximizes profits for the monopolist? Why? Show Q* on your graph.

c) What are the monopolist's profits at Q*? Show these max. profits on your graph.

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