Assume that the short-run cost and demand data given in the tables below confront a monopolistic competitor selling a given product and engaged in a given amount of product promotion. $ \quad$$ \quad$$ \quad$$ \quad$ $\text { Cost Data }$ $ \quad$$ \quad$$ \quad$ $\text { Demand Data }$
$\begin{array}{|c|c|c|c}
\begin{array}{c}
\text { Total } \
\text { Output }
\end{array} & \begin{array}{c}
\text { Total } \
\text { Cost }
\end{array} & \begin{array}{c}
\text { Quantity } \
\text { Demanded }
\end{array} & \text { Price } \
\hline 0 & \$ 25 & 0 & \$ 60 \
\hline 1 & 40 & 1 & 55 \
\hline 2 & 45 & 2 & 50 \
\hline 3 & 55 & 3 & 45 \
\hline 4 & 70 & 4 & 40 \
\hline 5 & 90 & 5 & 35 \
\hline 6 & 115 & 6 & 30 \
\hline
\end{array}$ What will the maximum total profits be?
A) $65
B) $85
C) $90
D) $110

Question

Assume that the short-run cost and demand data given in the tables below confront a monopolistic competitor selling a given product and engaged in a given amount of product promotion. $ \quad$$ \quad$$ \quad$$ \quad$   $\text { Cost Data }$    $ \quad$$ \quad$$ \quad$  $\text { Demand Data }$ 
$\begin{array}{|c|c|c|c}
\begin{array}{c}
\text { Total } \
\text { Output }
\end{array} & \begin{array}{c}
\text { Total } \
\text { Cost }
\end{array} & \begin{array}{c}
\text { Quantity } \
\text { Demanded }
\end{array} & \text { Price } \
\hline 0 & \$ 25 & 0 & \$ 60 \
\hline 1 & 40 & 1 & 55 \
\hline 2 & 45 & 2 & 50 \
\hline 3 & 55 & 3 & 45 \
\hline 4 & 70 & 4 & 40 \
\hline 5 & 90 & 5 & 35 \
\hline 6 & 115 & 6 & 30 \
\hline
\end{array}$ What will the maximum total profits be?
A) $65
B) $85
C) $90
D) $110

Quizplus · Accepted Answer

The Answer of Assume that the short-run cost and demand data given in the tables below confront a monopolistic competitor selling a given product and engaged in a given amount of product promotion. $ \quad$$ \quad$$ \quad$$ \quad$   $\text { Cost Data }$    $ \quad$$ \quad$$ \quad$  $\text { Demand Data }$ 
$\begin{array}{|c|c|c|c}
\begin{array}{c}
\text { Total } \
\text { Output }
\end{array} & \begin{array}{c}
\text { Total } \
\text { Cost }
\end{array} & \begin{array}{c}
\text { Quantity } \
\text { Demanded }
\end{array} & \text { Price } \
\hline 0 & \$ 25 & 0 & \$ 60 \
\hline 1 & 40 & 1 & 55 \
\hline 2 & 45 & 2 & 50 \
\hline 3 & 55 & 3 & 45 \
\hline 4 & 70 & 4 & 40 \
\hline 5 & 90 & 5 & 35 \
\hline 6 & 115 & 6 & 30 \
\hline
\end{array}$ What will the maximum total profits be?
A) $65
B) $85
C) $90
D) $110

Assume That the Short-Run Cost and Demand Data Given in the Tables