A single-price monopolist is a monopolist that sells each unit of its output for the same price to all its customers. Refer to E

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cricket20 [7]

2 years ago

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A single-price monopolist is a monopolist that sells each unit of its output for the same price to all its customers. Refer to E

xhibit 1. A single-price monopolist earns a total profit of __________ when it produces and sells 20 units of its good.

SAT

1 answer:

NARA [144] · Answer 1 · 2023-03-17T13:47:53+03:00

From the information provided, A single-price monopolist earns a total profit of $80 when it produces and sells 20 units of its good. See the attached for more information.

<h3>How do we arrive at $80?</h3>

Total profit = revenue - cost

Revenue = price x number of units sold

Revenue at 20 units =

20 x9 = $180

Given that Total cost at 20 units is $100, thus,
Total Profit = 180 - 100

= $80.

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