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Q
P
TR
MR
TFC
Bt
TC
AFC
AVC
ATC
MC
Total Profit
Unit Profit
Elasticity
0
115
83
166
30
7250
4
252
18
285.00
10
8
37
-89.01
29
-23.50
1. Complete the above table?
2. Is the firm operating in pure competitive market or monopoly market and why?
3. Draw the TR, demand curve, marginal revenue curve in one figure.
4. Ignore profit maximization, which level of output the monopolist would avoid?
5. At what level of production does the monopolist maximize profit?
6. Does the monopolist realize a profit or a loss and why?
7. Roughly draw two figures, using the TR - TC approach and MR - MC approach, to show the monopolist total profit or total loss.
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