. ITDidVer . annArd 9. The figure below shows demand, marginal revenue, and short-run cost curves for monopoly: CHAPTER 12 Managerial Decisions for Firms with Market Power 497 90 80 Price (dollars) 60 40 20 0 1,000 2,000 3,000 4,000 5,000 6,000 Quantity MR a. How much should the firm produce? What price should it charge? b. What is the firm's profit (loss)? c. What is total revenue? What is total variable cost? d. If the firm shuts down in the short run, how much will it lose? 10 Consider a monopoly firm with the demand and cost curves below. Assume that the MADE WITH Photo Editor