confused on this problem x axis is the quantity of electric The chart shows the Demand, Marginal
Question:
confused on this problem
x axis is the quantity of electric
The chart shows the Demand, Marginal Revenue, Average Total Cost and Marginal Cost curves for an electric company operating as a monopoly.
If the firm charges every customer the same price, what price will it charge to maximize profit?
If the firm charges every customer the same price, what quantity will it produce to maximize profit?
If the firm charges every customer the same price, how much profit will it earn? (calculate)
If the firm decides to maximize revenue, what price will it charge to maximize revenue?
If the firm decides to maximize revenue, what quantity will it produce to maximize revenue?
If the firm is able to charge different customers different prices and practices perfect price discrimination, what quantity will it produce?