Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown on the right

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Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown on the right.

a. Calculate the missing total-revenue and marginal-revenue amounts.

b. What is the profit-maximizing price? What is the profit-maximizing output for this monopolist?

c. What is the monopolist's profit?

 

Production and costs	Production and costs	Production and costs	Production and costs	Production and costs	Demand	Demand	Demand	Demand
Total Produce	Average fixed cost	Average variable cost	Average total cost	Marginal cost	Price	Quantity demanded	Total revenue	Marginal revenue
0	-	-	-	-	$115	0		-
1	$60.00	$45.00	$105.00	$45	100	1
2	36.00	42.50	72.50	40	83	2
3	20.00	40.00	60.00	35	71	3
4	15.00	37.50	52.50	30	63	4
5	12.00	37.00	49.00	35	55	5
6	10.00	37.50	47.50	40	48	6
7	8.57	38.57	47.14	45	42	7
8	7.50	40.63	48.13	55	37	8
9	6.67	43.33	50.00	65	33	9
10	6.00	46.50	52.50	75	29	10