Refer to the figures of a monopolistic catfish farmer below: Instructions: Enter your responses rounded to the nearest whole number

Accounting Feb 16, 2021

Refer to the figures of a monopolistic catfish farmer below:

Instructions: Enter your responses rounded to the nearest whole number.

(a) What is the highest price the monopolist could charge and still sell fish?

(b) What is total revenue at that highest price?

(c) What rate of output maximizes total revenue?

(d) What rate of output maximizes total profit?

(e) What is MR at that rate of output?

(f) What is the price at the profit-maximizing rate of output?

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