Look at the production table from the HW in perfect competition. Use this data as the costs for a monopolist.

Suppose that the monopolist can charge $52 for the 1st unit sold, but must drop (decrease) the price by $3 for each subsequent unit. So the 1st unit sells for $52, the 2nd $49, and so on. Answer the following questions:

a) construct the AR, TR, and MR table, or just list each, for each unit of output.

b) what is the profit maximizing output, price, and total profit for the monopolist?

c) Put this on a graph, superimpose the AR and MR curves on the production cost data (this need not be to scale, but the salient intersections should be noted: i.e. price and output)

d) Does the monopolist's profit and output make sense with your answer to the perfect competition answer, Why?

e) If both the monopolist and perfect competition profit maximization output were to represent a profit, and this was the short run in both, what would you expect to happen in the long run (assume constant costs)

Production

Total Product	Total Fixed Cost	Total variable cost	Total Cost	Average fixed cost	Average variable cost	Average Total Cost	Marginal Cost
0	50	0	50	50	0	50	0
1	50	25	75	50	25	75	25
2	50	45	95	25	22.5	47.5	20
3	50	60	110	17.7	20	36.66	15
4	50	70	120	12.5	17.5	30	10
5	50	85	135	10	17	27	15
6	50	105	155	8.33	17.5	25.83	20
7	50	135	185	7.14	19.2	26.42	30
8	50	180	230	6.25	22.5	28.75	45
9	50	240	290	5.55	26.67	32.22	60
10	50	315	365	5	31.5	36.5	75