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Based on the table below, what is the maximum amount of profit that this monopolistic firm could earn?

Based on the table below, what is the maximum amount of profit that this monopolistic firm could earn?

P Q TC

62 12 555

61 13 591

60 14 628

59 15 666

58 16 706

57 17 748

Question 15 options:

222

706

748

928

969

Here is the solution... View the full answer

Total Revenue(TR) = Price (P) * Quantity (Q)... View the full answer

Marginal Coat = Total Revenue = Marginal Revenue Price ClLuantit'yr Tatal Coat TCn — TCn—l P * I1 = TRn — TRn—l Profit = TR — TC
62 12 555 244 189
61 13 5‘31 36 2'33 49 202
ED 14 I528...

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