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The graph to the right depicts the demand for electricity electricity from a local utility localutility along with the average total cost and marginal cost

The graph to the right depicts the demand for electricity

electricity from a local utility

localutility along with the average total cost and marginal cost of producing electricity

electricity. Suppose the local utility

localutility is a monopoly.

image text in transcribed
The graph to the right depicts the demand for electricity from a local utility along with the average total cost and marginal cost of producing electricity. Suppose the local utility is a monopoly. What is the profit-maximizing quantity of electricity? | | million kilowatt hours per day. (Enter a numeric response using an integer.) MC What is the corresponding profit-maximizing price? $|per kilowatt hour. (Enter a numeric response using a real number rounded to two decimal places.) Calculate the local utility's profits. $| million per day. (Enter a numeric response using a real number rounded to two decimal places.) Price and cost (dollars per kilowatt hour) C' 0.32 .mark ATC 0.24 much 0.20 -.= == =14343 D 70 Quantity of kilowatt hours (per day in millions)

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