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
1 answer:
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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The inequality is given as:
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- The value of variable x starts from 7/16 (inclusive)
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Because, 7/16 is inclusive of the values of x, we make use of the open square bracket i.e. [
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