Homework . Unanswered A monopoly is producing where marginal cost is $10,000 and marginal revenue is $15,000 in an industry where demand is above the average cost. Place the following actions in order to describe the steps the monopoly would take to maximize its profits. Drag and drop options into correct order and submit. For keyboard navigation.. SHOW MORE The firm realizes that as it increase production, total revenue will go up by more than cost increases. E The quantity produced will be larger than at the beginning and the price will be lower. As they increase quantity price is determined by the demand curve. There will be a surplus if the price is too high. The monopoly will produce more units up to the point where marginal cost equals marginal revenue. The monopoly will make positive economic profits at the new price and quantity