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Homework answers / question archive / Quantity, price, total revenue, and total cost for a monopoly firm that produces cement are listed in the table below
Quantity, price, total revenue, and total cost for a monopoly firm that produces cement are listed in the table below.
Quantity, (Q) (tons) Price (P) Total Revenue (TR) Total Cost (TC) 1 $1,400 $1,400 $900 2 $1,315 $2,630 $980 3 $1,230 $3,690 $1,100 4 $1,145 $4,580 $1,270 5 $1,060 $5,300 $1,510 6 $975 $5,850 $1,810 7 $890 $6,230 102,190
Determine the firm's profit-maximizing price. Write the exact answer. Do not round.
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