Monopoly in the Short Run Exercise Use the demand and cost data to find the Monopolist's short run profit-maximizing Price, Output, and Profit for each scenario below. Demand and Cost Scenario 1. Output (units per month) Marginal Cost Total Fixed Cost (S per month) Total Variable Cost ($ per unit) Total Cost (s per month) Average Fixed Cost Average Variable Average Total Cost Price (s per unit) Marginal Revenue (s per unit) (s per Total Revenue (s per month) Total Profit (s per month) Cost (s per Marginal Profit (Sper unit) unit) (s per (s per unit) unit) unit) 0 30 0 150 1 30 40 140 2 30 70 130 3 30 90 120 4 30 120 110 5 30 160 100 6 30 210 90 7 30 270 80 la. P S/unit and The profit maximizing Price is: The profit maximizing Output is 1b. Q- units/month 1c. The resulting Profit is Profit S/month 208 Demand and Cost Scenario 2 Price Output (units per month) Total Fixed Cost Total Cost Total Variable Cost (S per unit) Marginal Cost (s per unit) Average Fixed Cost Average Variable Cost Average Total Cost Total Revenue Total Profit Marginal Profit Marginal Revenue (S per unit) (s per (per unit) (s per (s per (5 per (s per month) (s per (s per (s per month) month) unit) month) unit) unit) unit) 0 30 0 45 1 30 40 42 2 30 70 40 3 30 90 38 4 30 120 35 3 30 160 32 la 30 210 30 7 30 270 28 2a P- S/unit and 2b. The profit maximizing Price is: The profit maximizing Output is The resulting Profit is Q- units/month. 2c. Profit S/month 209