Table 10.3 shows the demand and total cost for Zeta, a monopolist. $\begin{array}{l}
\text { Table } 10.3\
\begin{array} { c c c }
\hline \mathrm { Q } & \mathrm { P } & \mathrm { TC } \
\hline 0 & 23 & 22 \
1 & 21 & 30 \
2 & 19 & 35 \
3 & 17 & 41 \
4 & 15 & 50 \
5 & 13 & 60 \
6 & 11 & 71 \
7 & 9 & 83 \
8 & 7 & 96 \
\hline
\end{array}
\end{array}$ a) What is the profit maximizing level of output and price?
b) What is value of marginal cost and marginal revenue at profit maximization?

Question

Table 10.3 shows the demand and total cost for Zeta, a monopolist. $\begin{array}{l}
\text { Table } 10.3\
\begin{array} { c c c } 
\hline \mathrm { Q } & \mathrm { P } & \mathrm { TC } \
\hline 0 & 23 & 22 \
1 & 21 & 30 \
2 & 19 & 35 \
3 & 17 & 41 \
4 & 15 & 50 \
5 & 13 & 60 \
6 & 11 & 71 \
7 & 9 & 83 \
8 & 7 & 96 \
\hline
\end{array}
\end{array}$ a) What is the profit maximizing level of output and price?
b) What is value of marginal cost and marginal revenue at profit maximization?

Quizplus · Accepted Answer

The Answer of Table 10.3 shows the demand and total cost for Zeta, a monopolist. $\begin{array}{l}
\text { Table } 10.3\
\begin{array} { c c c } 
\hline \mathrm { Q } & \mathrm { P } & \mathrm { TC } \
\hline 0 & 23 & 22 \
1 & 21 & 30 \
2 & 19 & 35 \
3 & 17 & 41 \
4 & 15 & 50 \
5 & 13 & 60 \
6 & 11 & 71 \
7 & 9 & 83 \
8 & 7 & 96 \
\hline
\end{array}
\end{array}$ a) What is the profit maximizing level of output and price?
b) What is value of marginal cost and marginal revenue at profit maximization?

Table 103 Shows the Demand and Total Cost for Zeta, a a Monopolist