The accompanying diagram shows the demand, The accompanying diagram shows the demand, Question MG 640 HW 9 Nov 4, 2015 Question 6 on Pages 316 The accompanying diagram shows the demand, marginal revenue, and marginal cost of a monopolist a. Determine the profit-maximizing output and price. Explain. Just don’t state the answer b. What price and output would prevail if this firm’s product were sold by price-taking in a perfectly competitive market? Explain. Just don’t state the answer c. What conclusion can draw between a firm operating as a competitor and monopolist in terms of i) Output produced ii) Price charge Price($) 120 .0/msohtmlclip1/01/clip_image001.png”> MC 110 .0/msohtmlclip1/01/clip_image002.png”>.0/msohtmlclip1/01/clip_image003.png”> 100 90 80 70 60 50 40 30 20 10 D 0 MR 0 1 2 3 4 5 6 7 8 9 10 Quantity Question 7 The supply curve of a single firm under perfect competition is that portion of the MC curve above the minimum point of the AVC curve. How about the supply curve of the monopolist? Does the monopolist have a supply curve? Discuss The accompanying diagram shows the demand, Attachments soln.zip (56.04 KB) Preview not available.