Price ($)
30:44 14.
Using the graph of the cost and sales information for the Good Times Brewing Company, a monopolistic competitor in the
coffee industry, calculate total profit for the company.
Note: Average total cost at the profit-maximizing level of output is $14.
35
30
Marginal cost
25
Total profit
20
(40, $16)
15-
Average cost
10-
Total cost
5
Demand
0
10
20
30
10
Marginal revenue