Economics Q67

67In a monopoly, a firm is operating at an average total cost of $15. The marginal cost is $10 which is equal to the marginal revenue. The firm produces 1000 units, charging a price of $25 per unit. The total profit of this firm is closest to:

Option : A
Explanation : The firm is selling at $25 and the average total cost is $15. The firm is making a profit of $10 per unit. This will result in a total profit of $10,000.

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