Output:Price:$Profits:$Generally (monopolies or perfectly competitive firms) will be more able to earn long-run profits than (entry and entry or average variable costs or externalities or barriers to entry)

The graph shows the demand curve faced by a pure monopolist. a. Move the interactive point to identify where marginal revenue (MR) is equal to marginal cost (MC) for this monopolist, use the shape to identify the firm's profits, and then answer the question and complete the sentence. 100 Marginal Cost MR - MC Profits 8 Average Total Cost 8 Price (S) Demand 10 Marginal Revenue 10 20 30 40 50 D 70 80 90 100 Quantity b. What is the monopolist's profit-maximizing output, price, and profit? output units price: $ 1:30 PM