The following data show the relationship between output, total costs, and total revenue for a pure monopoly.
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Question:
The following data show the relationship between output, total costs, and total revenue for a pure monopoly.
| Output | TC | TR |
| 50 | $750 | $1,000 |
| 60 | 800 | 1,100 |
| 70 | 950 | 1,250 |
| 80 | 1,200 | 1,450 |
| 90 | 1,300 | 1,500 |
Within which of the following output ranges does the firm earn maximum economic profits?
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