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Security Plus Ltd. has just invented a new type of miniature tracking chip that can be embedded in any item. If someone steals this item,

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Security Plus Ltd. has just invented a new type of miniature tracking chip that can be embedded in any item. If someone steals this item, the original owner can track the location of the stolen item. Since Security Plus has patented this type of chip, it has a monopoly on its manufacture. The graph to your right describes the per unit costs and revenues associated with manufacturing (supplying) this chip. For the questions below, assume that Security Plus is maximizing its prot by supplying 700 chips per day. a. At the prot maximizing output level, the prot per chip earned by Security Plus equals $ D. b. At the prot maximizing output level, the total dollar prot earned by Security Plus equals $ [I . Price per Chip 1 234567891b1l112 Quantity (Hundreds of chips per day)

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