5) The table below depicts market demand and cost curves for a monopolist.

Quantity	Price	Total Revenue	Marginal Revenue	Total Cost	Marginal Cost
100	$12	$1200		$1600
200	11	2200	$1000/100 = $10	2200	$6
300	10	3000	800/100 = 8	2800	6
400	9	3600	600/100 = 6	3400	6
500	8	4000	400/100 = 4	4000	6
600	7	4200	200/100 = 2	4600	6

a) Assume that the firm must produce in 100-unit increments as shown in the table. Which quantity is profit-maximizing for the firm?

b) At the profit-maximizing quantity, what price will the firm charge?

c) What will be the amount of the firm's profit or loss at the profit-maximizing level?

6) For each of the four industry types listed below, indicate whether or not they can continuously earn above-normal profits in the long run.

Industry Type	Above-normal profit in the long run? (Yes or No)
Pure Competition
Pure Monopoly
Monopolistic Competition
Oligopoly