Question

A single-price monopolist is a monopolist that sells each unit of its output for the same price to all its customers. Refer to Exhibit 1. A single-price monopolist earns a total profit of __________ when it produces and sells 20 units of its good.

Answer 1

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.

How do we arrive at $80?

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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