Answer to Question #76114 in Microeconomics for Sameer
a constant marginal cost and an average total cost of $45 per unit.
Quantity (thousands of units) Price (dollars per unit)
a. Calculate the total revenue and marginal revenue for each level of quantity.
b. What are the profit-maximizing level of output and the price of the product?
c. Calculate the monopolist’s profit.
d. Calculate the Lerner Index for this industry.
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