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Question 2 (25 points) Listen Consider the table below: Q TC MC TR MR AR-P 0 1 900 900 1200 1200 $1200 2 1600 700
Question 2 (25 points) Listen Consider the table below: Q TC MC TR MR AR-P 0 1 900 900 1200 1200 $1200 2 1600 700 2100 900 1050 2100 500 2700 600 900 2400 300 3000 300 750 3000 600 3000 600 4200 700 2700 300 450 How much will this monopolist produce and how much profit will he earn? a) He will produce 5 units and earn zero profits. b) He will produce 2 units and earn profits of $500. c) He will produce 4 units and earn $600. d) None of the above
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