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I'm currently trying to study for my upcoming final but unsure how to approach these problems. Would really love some help, thank you! QUESTION 1

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I'm currently trying to study for my upcoming final but unsure how to approach these problems. Would really love some help, thank you!

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QUESTION 1 A monopolist faces the following demand curve: Price Quantity $30 D $25 2.5 $20 5 $15 7.5 $10 10 $5 12.5 $0 15 Refer to the Table. In order to maximize total revenues, the monopolist should produce o a. 5 units. ob. 7.5 units. O c. 10 units. o d. 12.5 units.QUESTIO N 2 The following table gives information on the price, quantity, and total cost of production for a monopolist. Refer to the Table. If the monopolist maximizes prots, he will charge a price of \" a.$4. "b_$3. \" c. $2. "d.$L QUESTIO N 3 If a monopolist sells 200 units at $8 per unit and realizes an average total cost of $6 per unit, what is the monopolist's profit? " a. $200 "b.$400 '\\c_$600 '\\d_$800 QUESTION 6 Sally owns the only shoe store in town. She has the following cost and revenue information. COSTS REVENUES Quantity Produced Total Cost Marginal Quantity Price Total Marginal Cost (pairs) S) Demanded ($/unit) Revenue Revenue 100 0 170 140 1 160 184 2 150 230 3 140 280 4 130 335 5 120 395 6 110 475 7 100 8 565 8 90 Refer to the Table. What is the marginal revenue from selling the 4th pair of shoes? o a. $100 o b. $600 O c. $625 O d. $660QUESTION 7 The diagram depicts the market situation for a monopoly pastry shop called Bearclaws. Price 24 J 22+ V 60 80 100 120 140 Quantity Refer to the Figure. Given that Bearclaws chooses the profit maximizing price and quantity, what profit level will it obtain? o a. $700. ob. $980. O c. $490. o d. $280

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