A monopolist faces the inverse demand curve P = 60 - Q. It has variable costs of Q2 so that its marginal costs are 2Q, and it has fixed costs of 30. At its profit maximizing output level, the monopoly's average cost is
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1.A monopolist faces the inverse demand curve P = 60 - Q.
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2.A firm realizes that it is producing more than the profit maximizing level of output and makes a short-run
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3.If a monopoly’s fixed costs increase, its price will _________ and its profit will _________. a. increase
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4.When monopolistic profit has been maximized, its marginal cost is ___ than its marginal revenue.
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5.At this level of production, its total fixed costs are $486,000 and its total costs are $791,000.
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6.When Acme Dynamite produces 250 units of output, its variable cost is $2,000, and its fixed cost is $500
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7.Thompson Company is in the process of preparing its budget for the next fiscal year.
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8.Unlike variable costs, fixed costs ________ as the number of units produced increases.
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9.The marginal cost curve intersects the average fixed, average variable, and average total cost curves
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10.If the total cost of producing 10 units is $100 and the marginal cost of the eleventh unit is $21, then
