Sal'sSal's

SalonSalon

is a single-price monopoly.

The table shows the demand schedule for

Sal'sSal's

SalonSalon

(columns 1 and 2) and the firm's total cost schedule (columns 2 and 3).

What is

Sal'sSal's

profit-maximizing output, price, and economic profit?

Question content area bottom left

Part 1

Sal'sSal's

profit-maximizing output is

enter your response here

haircutshaircuts

an hour.

Part 2

Sal'sSal's

profit-maximizing price is

$enter your response here

a

haircuthaircut.

Part 3

When

Sal'sSal's

produces the profit-maximizing output and charges the profit-maximizing price, economic profit is

$enter your response here

an hour.

...

Question content area right

Part 1

Price (dollars per haircuthaircut)	Quantity (haircutshaircuts per hour)	Total cost (dollars per hour)
12	0	11
11	1	22
10	2	55
9	3	10
8	4	17
7	5	26