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hi please help me figure out and draw the profit maximizing price and shade the economic profits area on the graph. Suppose the figure represents
hi please help me figure out and draw the profit maximizing price and shade the economic profits area on the graph.
Suppose the figure represents the market for diamond necklaces, where the 260.UU- company that supplies necklaces is a monopoly because it is the only firm with 240.00- O access to diamond mines. MC What is the firm's profit-maximizing price and quantity? What are profits? 1.) Use the point drawing tool to indicate the profit-maximizing price and quantity for the monopoly. Label this point 'Profit-maximizing'. 140.00- Price and cost (per necklace) ATC 2.) Use the rectangle drawing tool to shade in economic profits. Label this shaded 120.00- area 'Profit'. 100.00- 80.00- Carefully follow the instructions above, and only draw the required objects. 60.00- 40.00- 20.00- MR 0.0 4 6 8 10 12 14 16 18 20 25 24 26 Selected: Delete Clear
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