Total Revenue and Profit in Monopoly Market

What is the total revenue at the profit-maximizing rate of output in the given figure?

Choose one:

a. $22.00

b. $6.40

c. $4.00

d. $16.00

What is the total profit at the profit-maximizing rate of output in the given figure?

Choose one:

a. $16.00

b. $5.50

c. $6.00

d. $22.00

What is the monopolist's profit-maximizing price with the given demand and average cost equations?

Choose one:

a. $4,200

b. $8,250

c. $8,391

d. $8,500

Answer:

In the first figure, the total revenue at the profit-maximizing rate of output is $24.00.

In the second figure, the total profit at the profit-maximizing rate of output is $16.00.

In the third question, the monopolist's profit-maximizing price is $7,650.