Here,

1.What will be the profit maximizing output level?

2.what will be the profit maximizing price?

3. What will the total revenue at the profit maximizing output level?

4. what will be the total cost at profit maximizing output level?

5. What would be the total profit or loss?

Question 3: The following graph shows the cost and revenue curves for a monopoly. MC AC -NWAVANDO Price D MR 100 125 150 175 200 11 * B IUA E EThe following graph shows the cost and revenue curves for a monopoly. MC AC Price D 100 125 150 175 200Pr D -NWA IMR 100 125 150 175 200 300 Identify the following (1) Profit-maximizing output level = (2) Profit-maximizing price = (3) Total revenue at the profit-maximizing output level = (4) Total cost at the profit-maximizing output level = (5) Total profit (or loss) = Question 4: In a competitive market, are market supply curves typically more elastic in the short run or in the long run? ExplainPr D -NWA IMR 100 125 150 175 200 300 Identify the following (1) Profit-maximizing output level = (2) Profit-maximizing price = (3) Total revenue at the profit-maximizing output level = (4) Total cost at the profit-maximizing output level = (5) Total profit (or loss) = Question 4: In a competitive market, are market supply curves typically more elastic in the short run or in the long run? ExplainThe following graph shows the cost and revenue curves for a monopoly. MC AC Price D 100 125 150 175 2008:140 .. 80 V A + 'E D -NWAU IMR 100 125 150 175 200 300 Identify the following (5 marks} (1) Profit-maximizing output level = 3 (2) Profit-maximizing price = (3) Total revenue at the profit-maximizing output level = (4) Total cost at the profit-maximizing output level = (5) Total profit ( or loss) = Question 4: In a competitive market, are market supply curves typically more elastic in the short run or in the long run? Explain within 60 words. {5 marks} 11 v B IUA