Question

The market demand curve for a commodity and the total cost for a monopoly firm producing the commodity is given in the schedules below.




Quantity



0



1



2



3



4



5



6



7



8





Price



52



44



37



3



26



22



19



16



13





























Quantity



0



1



2



3



4



5



6



7



8





Total Cost



10



60



90



100



102



105



109



115



125




Use the information given to calculate the following:

(a) The MR and MC schedules

(b) The quantities for which MR and MC are equal

(c) The equilibrium quantity of output and the equilibrium price of the commodity

(d) The total revenue, total cost and total profit in the equilibrium

Answer 1

option d is correct

hope it helps