Assume that the following marginal costs exist in catfish production: ( a ) Graph the MC curve. ( b

Assume that the following marginal costs exist in catfish production:
( a ) Graph the MC curve.
( b ) Use the data on market demand from problem 5 to graph the demand and MR curves on the same graph.
( c ) At what rate of output is MR = MC?
( d ) What price will a monopolist charge for that much output?
( e ) If the market were perfectly competitive, what price would prevail? How much output would be produced?


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