The graph below shows the cost and revenue curves for IchiBan Inc., a monopolist.   a. What is the monopolist’s profit-maximizing output and price?   Output:     Price: $   b. What will be the monopolist’s total profit?

Economics: Private and Public Choice (MindTap Course List)
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ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter24: Price-searcher Markets With High Entry Barriers
Section: Chapter Questions
Problem 15CQ
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The graph below shows the cost and revenue curves for IchiBan Inc., a monopolist.

 


a. What is the monopolist’s profit-maximizing output and price?

 

Output:  

 

Price: $ 
 

b. What will be the monopolist’s total profit?

 
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