Firm do regarding production assuming they are monopoly

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A firm's Price = $100 and MR = $60 at 2000 units of output. Their MC at the 2000th unit is $40, ATC is $70, and AVC is $40. Calculate the firms Total Revenue, Total Costs, Total Variable Costs, Total Fixed costs, and Total Profit at a production level of 2000 units. What should this firm do regarding production assuming they are a monopoly? Would you recommend they change price, production, or both? Why? Explain thoroughly and show all work. (5 bonus points possible)

Reference no: EM131238735

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