Demand and cost information for a monopoly
Q P TC
0 40 10
1 30 15 2 20 25
3 10 40
4 0 60
A-The marginal revenue of the second unit of output in exhibit above is:
The marginal revenue of the second unit of output is 10
B-Refer to exhibit above. Using the rule that focuses on the marginal approach to maximizing profits, the monopolist maximizes profit by choosing price equal to
C-In exhibit above, how much vaccine should GenTech produce to maximize its profit?
D-As shown in exhibit above, in order to maximize its profit, what price should GenTech charge for its vaccine?
E-In exhibit above, what is the maximum hourly profit that GenTech can earn from its vaccine?