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Complete the following table that shows the costs and revenues of a monopolist? Product price TR MR TC MC Profit 0. 30. 8 1. 28.
Complete the following table that shows the costs and revenues of a monopolist?
Product price TR MR TC MC Profit
0. 30. 8
1. 28. 22
2. 26. 34
3. 24 50
4. 22 76
5 20. 118
6 18. 182
7. 16. 274
8. 14. 400
9. 12. 566
10. 10. 778
B. Determine the profit maximizing level of output. What is the maximum profit?
C Determine the level of output where TR is maximized. What is the maximum value of TR?
D why profit is not maximized when total revenue is maximized?
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