The table below shows the total cost and marginal cost for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Marginal Revenue...

Extracted text: The table below shows the total cost and marginal cost for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Marginal Revenue Total Quantity Price Total Cost Marginal Cost Revenue $31 $0 $50 25 29 725 100 $2 30 810 108 17 35 25 118 13 40 23 920 133 9. 45 21 945 50 19 950 193 7 1 Instructions: Enter your answers as a whole number. For profit, round your answer to two decimal places. Profit-maximizing quantity = units Profit-maximizing price = $ Profit = $


Extracted text: Suppose a monopolist's profit-maximizing output is 500 units per week and that the firm sells its output at a price of $50 per unit. The firm has total costs of $7,000 per week. Assume the monopolist is maximizing its profit and earns $35 per unit from the sale of the last unit produced each week. Instructions: Enter your answers as a whole number. a. What are the firm's weekly economic profits? b. What is the firm's marginal cost? c. What is the firm's average total cost? %24