The following table shows the demand curve and cost information for a firm that is a monopoly. Price Quantity TC $30 0 $10,200 $26 1,000 $11,000 $22 2,000 $12,000 $18 3,000 $15,000 $14 4,000 $22,000 If they maximize their profits, what will their revenue equal? $16,000 $32,000 $54,000 $56,000

The following table shows the demand curve and cost information for a firm that is a monopoly. Price Quantity TC $30 0 $10,200 $26 1,000 $11,000 $22 2,000 $12,000 $18 3,000 $15,000 $14 4,000 $22,000 If they maximize their profits, what will their revenue equal? $16,000 $32,000 $54,000 $56,000

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter11: Price And Output Determination: Monopoly And Dominant Firms

Section: Chapter Questions

Problem 1.1CE

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Question

The following table shows the demand curve and cost information for a firm that is a monopoly.
C
Price
Quantity
TC
$30
0
$10,200
$26
1,000
$11,000
$22
2,000
$12,000
$18
3,000
$15,000
$14
4,000
$22,000
If they maximize their profits, what will their revenue equal?
$16,000
$32,000
$54,000
$56,000

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