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Using the table below, calculate the total profit () for this monopoly at output level ( = 10. Note that the table includes marginal revenue

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Using the table below, calculate the total profit () for this monopoly at output level ( = 10. Note that the table includes marginal revenue and marginal cost for each group of 5 units: for example, the marginal revenue of the first 5 units together is $1, 500. Adding another group of 5 units yields additional revenue of $1, 200. Quantity Marginal Marginal Marginal Total (Q) Revenue Cost Profit Profit (MR) (MC) (MP) (#) 5 1, 500 1. 000 ? 10 1, 200 500 ? 15 700 450 ? 20 300 300 25 125 250

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