Currently, a monopolist’s profit-maximizing output is 250 units per week. It sells its output at a price of $50 per unit and collects $20 per unit in revenues from the sale of the last unit produced each week. The firm’s total costs each week are $9,000.
a. What are the firm’s weekly economic profits?
b. What is the firm’s marginal cost?
c. What is the firm’s average total cost?