Question
the following table describes a monopolistic competitor Quantity Price Total Cost Total Revenue Marginal Cost Marginal Revenue Profits/ Losses 8000 $40 $270,000 -- -- 8500
the following table describes a monopolistic competitor
| Quantity | Price | Total Cost | Total Revenue | Marginal Cost | Marginal Revenue | Profits/ Losses |
| 8000 | $40 | $270,000 | -- | -- | ||
| 8500 | $38 | $273,000 | A | |||
| 9000 | $36 | $280,000 | B | |||
| 9500 | $34 | $300,000 |
What is the value of cells A and B
What quantity should the firm produce to maximize profits (or minimize losses)? If the table doesn't give you this information specifically or you cannot calculate it with what's given, enter 99999
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Managerial Economics
Authors: Luke M. Froeb, Brian T. McCann, Michael R. Ward
5th Edition
1337106666, 978-1337106665
