Explore BrainMass

Explore BrainMass

    output level

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    Graph is attached as a bitmap image

    a. What is the firm's Total Revenue?

    b. What is the Total Cost?

    c. What is the firm's Total Profits?

    d. If the above monopolist were to behave like a perfectly competitive firm (operating in the long run), determine its output

    © BrainMass Inc. brainmass.com October 10, 2019, 12:13 am ad1c9bdddf


    Solution Preview

    a. What is the firm's Total Revenue?
    The firm will produce at MC = MR to maximize its profit.
    The monopoly output level is then E.
    From the demand curve, the price should be A.
    Thus the ...

    Solution Summary

    The output level is demonstrated.