PLEASE HELP I NEED O GRDAUAE AND FINISH HIS!! 20PS!!
The graph below depicts a firm with market power. In the graph, MC represents the firm's marginal costs, ATC represents the average total costs, D represents demand, and MR represents marginal revenue.
Market graph shows MR and D curves start at same point on y axis, 110 dollars, but immediately split with the slope of MR falling twice as fast as D. The MC curve intersects the MR curve at 40 units, 20 dollars. D is 70 dollars at 40 units, and the ATC is at 40 dollars at 40 units. The intersection of MC and ATC is at 50 units and 30 dollars. At 50 units, the D curve is at 60 dollars. MC intersects D at 60 units and 50 dollars. The MR curve crosses the x axis at 60 units. ATC intersects D at 70 units and 40 dollars. Two further points are labeled on the D curve; 80 units, 30 dollars and 95 units, 20 dollars.
At 60 units of output, how much would this profit-maximizing monopolist charge?
How many units would it produce to maximize total revenue rather than total profit?
What is the maximum quantity this firm can produce without incurring economic losses?
Calculate the firm's profit at the profit-maximizing output and price.
Why is this firm's marginal revenue curve below its demand curve? Explain.
