A monopolist's maximized rate of economic profits is $5,000 per week. Its weekly output is 500 units,
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A monopolist's maximized rate of economic profits is $5,000 per week. Its weekly output is 500 units, and at this output rate, the firm's marginal cost is $15 per unit. The price at which it sells each unit is $40 per unit. At these profit and output rates, what are the firm's average total cost and marginal revenue?
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The monopolists total revenues equal 500 units per week 40 per unit 20000 per week Thus it...View the full answer
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