Question
Hello, please help me understand the following exercise: 18. Following are the demand, total revenue, marginal revenue, total cost and marginal cost schedules (All in
Hello, please help me understand the following exercise:
18. Following are the demand, total revenue, marginal revenue, total cost and marginal cost schedules (All in $) for a monopolist publisher of a textbook in Microeconomics.
Number of books per hour | Price | Total Revenue | Total Cost | Marginal Revenue | Marginal Cost |
0 | 8 | 12 | |||
1 | 7 | 15 | |||
2 | 6 | 17 | |||
3 | 5 | 20 | |||
4 | 4 | 24 | |||
5 | 3 | 29 |
When the monopolist publisher maximizes its profits, what would be his total profit ($) per hour?
19. Following are the demand, total revenue, marginal revenue, total cost and marginal cost schedules (All in $) for a monopolist publisher of a textbook in Microeconomics.
Number of books per hour | Price | Total Revenue | Total Cost | Marginal Revenue | Marginal Cost |
0 | 8 | 12 | |||
1 | 7 | 15 | |||
2 | 6 | 17 | |||
3 | 5 | 20 | |||
4 | 4 | 24 | |||
5 | 3 | 29 |
When the monopolist publisher maximizes its profits, what would be his total cost ($) per hour?
20.Following are the demand, total revenue, marginal revenue, total cost and marginal cost schedules (All in $)for a monopolist publisher of a textbook in Microeconomics.
Number of books per hour | Price | Total Revenue | Total Cost | Marginal Revenue | Marginal Cost |
0 | 8 | 12 | |||
1 | 7 | 15 | |||
2 | 6 | 17 | |||
3 | 5 | 20 | |||
4 | 4 | 24 | |||
5 | 3 | 29 |
If the monopolist publisher shuts down and prints no books, how much money does he lose ($) ?
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