livyf36501 livyf36501

29-07-2024
Mathematics

Answered

Suppose that a monopolist is selling 35 units of a product at a price of $30 each. If the average variable cost at this level of output is $7 and average fixed cost at this level of output is $3, how much total economic profit is the firm earning?
Select one:

a. $350
b. $700
c. $70
d. $105

Answer :

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