The demand schedule of Karachi electric (KE) (known as monopolist) is given as below. You need to find the missing values using TR-TC & MR-MC approaches to analyze its cost of production and profit maximizing point.

a. Find the missing values of Total Revenue column

b. Find the output level that maximizes the firm's profit, using TR-TC approach c. What price should the firm set to achieve maximum profit?

d. Complete the final two columns to verify that the same conclusions are reached using the MR = MC rule.

e. Compare both the results and comment on the business and its position.

Output Price Total Cost Total Revenue MC MR O Rs.24 Rs. 10 21 14 2 18 20 15 28 12 38 9 50