Exhibit 8-5 Demand and cost data for a monopolist $$\begin{array} { | c | c | c | c | c | c | }
\hline \text { Price } & \text { Quantity } & \text { TR } & \text { MR } & \text { TC } & \text { Profit } \
\hline \$ 10 & 1 & 10 & 10 & 4 & \
9 & 2 & & & 8 & \
8 & 3 & & & 12 & \
7 & 4 & & & 16 & \
6 & 5 & & & 20 & \
5 & 6 & & & 24 & \
4 & 7 & & & 28 & \
3 & 8 & & & 32 & \
2 & 9 & & & 36 & \
1 & 10 & & & 40 & \
\hline
\end{array}$$ By calculating the data provided in Exhibit 8-5, how much is the profit if the firm decides to produce 7 units?

Question

Exhibit 8-5 Demand and cost data for a monopolist $$\begin{array} { | c | c | c | c | c | c | } 
\hline \text { Price } & \text { Quantity } & \text { TR } & \text { MR } & \text { TC } & \text { Profit } \
\hline \$ 10 & 1 & 10 & 10 & 4 & \
9 & 2 & & & 8 & \
8 & 3 & & & 12 & \
7 & 4 & & & 16 & \
6 & 5 & & & 20 & \
5 & 6 & & & 24 & \
4 & 7 & & & 28 & \
3 & 8 & & & 32 & \
2 & 9 & & & 36 & \
1 & 10 & & & 40 & \
\hline
\end{array}$$ By calculating the data provided in Exhibit 8-5, how much is the profit if the firm decides to produce 7 units?

Quizplus · Accepted Answer

The Answer of Exhibit 8-5 Demand and cost data for a monopolist $$\begin{array} { | c | c | c | c | c | c | } 
\hline \text { Price } & \text { Quantity } & \text { TR } & \text { MR } & \text { TC } & \text { Profit } \
\hline \$ 10 & 1 & 10 & 10 & 4 & \
9 & 2 & & & 8 & \
8 & 3 & & & 12 & \
7 & 4 & & & 16 & \
6 & 5 & & & 20 & \
5 & 6 & & & 24 & \
4 & 7 & & & 28 & \
3 & 8 & & & 32 & \
2 & 9 & & & 36 & \
1 & 10 & & & 40 & \
\hline
\end{array}$$ By calculating the data provided in Exhibit 8-5, how much is the profit if the firm decides to produce 7 units?

Exhibit 8-5 Demand and Cost Data for a Monopolist By Calculating the Data Provided in Exhibit 8-5, How Much