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DeBeer Diamons, a single-price monopoly, has the demand schedule shown in the 1 and 20s columns of the table and the total cost schedule shown
DeBeer Diamons, a single-price monopoly, has the demand schedule shown in the 1" and 20s columns of the table and the total cost schedule shown in the 3"d column: Compute and insert DeBeer's total revenue (TR), marginal revenue (MR) and marginal cost (MC) schedules in the following table. (Note. as both price and quantity are in $ thousands, the revenues and total costs will be in $ millions. However, you do not need to insert the six-zeros to indicate $millions. e.g., to indicate $8 million, just type the number 8 ) Price Quantity Demanded Total Costs TR MR MC (thousand $ per caret) (thousand carets per month) (min. $ per month) (min. $ per month) (thousand $ per month) (thousand. $ per month) 20 B 18 12 16 N 18 3 26 12 37 10 5 58 What is DeBeer's profit maximizing quantity? Q thousand carets per month What is DeBeer's profit maximizing price? P = $ thousand per caret. What is DeBeer's profit? Profits = S min. per month
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