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What is the monopolist’s profit maximizing level of output? ______________ b. What is the profit maximizing price? _______ c. What is the firm’s TR

What is the monopolist’s profit maximizing level of output? ______________

b. What is the profit maximizing price? _______

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c. What is the firm’s TR at the profit maximizing level of output? __________________

d. What is the marginal cost of producing the profit maximizing level of output? _________

e. Is the monopolist making a profit or a loss? __________Identify your answer on the graph by shading in the relevant area and labeling it as a profit or a loss.

f. Compared to a perfectly competitive industry, the monopolist charges a ________ price and produces a __________ quantity of goods.

Please use the graph to answer question 1

2. Graph the TR and TC curves of a monopolist and show its break-even levels of output. (Make sure to label the axes and every line you draw)

 

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