Essay Questions (Worth 50 points overall) Time: 1. (20 points) The table below shows the costs and revenues of a monopolist producer of specialist luxury rough terrain cars. Quantity AR TR MR AC TC MC (cars/day) (000s}] {000s) (000s) (000s) (000s) (000s) 100 110 95 90 90 80 85 75 8O 74 75 76 70 81 (a) (10 points) Fill in the missing figures for TR, MR, TC, and MC (b) (6 points) At what daily output of cars will the monopolist maximize profits? Explain (Note: the quantity must be on integer/ whole number) () (4 points) How much (maxin profit will be made/