Refer to the following table that gives the demand facing a monopolist:
$$\begin{array} { c c }
\text { Price } & \text { Quartity } \
\hline \$ 20 & 20 \
15 & 40 \
10 & 55 \
5 & 70
\end{array}$$
-If a firm earns profits of $250 by producing 40 units of output, the firm charges a price of _____ and has total costs of ______.

Question

Refer to the following table that gives the demand facing a monopolist:
 $$\begin{array} { c c } 
\text { Price } & \text { Quartity } \
\hline \$ 20 & 20 \
15 & 40 \
10 & 55 \
5 & 70
\end{array}$$
-If a firm earns profits of $250 by producing 40 units of output, the firm charges a price of _____ and has total costs of ______.

Quizplus · Accepted Answer

The firm charges a price of $15 for 40 units, earning $600 in revenue (15*40). With profits of $250, total costs are $350 ($600 - $250).

Refer to the Following Table That Gives the Demand Facing Price Quartity $202015401055570\begin{array} { c c } \text { Price } & \text { Quartity } \\\hline \$ 20 & 20 \\15 & 40 \\10 & 55 \\5 & 70\end{array} Price $2015105​ Quartity 20405570​​

Refer to the Following Table That Gives the Demand Facing $\begin{array} { c c } \text { Price } & \text { Quartity } \\\hline \$ 20 & 20 \\15 & 40 \\10 & 55 \\5 & 70\end{array}$