Assignment on monopoly problem

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Reference no: EM132456816

Monopoly Problem

Ben Franklin and Thomas Edison jointly patented a method for manufacturing Adam Smith bobble head dolls. The plan is for a very limited production run. They investigate the potential market for this unique novelty and find their sales and total cost schedules to be as follows: (The costs include a licensing fee to the estate of Adam Smith)

Sales                                   Unit Price               Total Cost
0                                           200                           140
1                                           180                           170
2                                           160                           200
3                                           140                           220
4                                           120                           250
5                                           100                           300
6                                             80                           380

A) Calculate their TR, MR, ATC, MC and profit/loss schedules

B) Determine the PMS price, PMS output, per unit profit, and total profit for these ingenious entrepreneurs.

Reference no: EM132456816

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