Illustrate what is the producer profit-maximizing

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The marginal revenue curve of a monopoly crosses its marginal curve at $30 per untit, and an output of 2 million units. The price that consumers are willing and able to pay for this output is $40 per unit. If it produces this output, the firm's average total cost is $43 per unit, and its average fixed cost is $48 per unit. Illustrate what is the producer's profit-maximizing(loss-minimizing) output level? Illustrate what are the firm's economic profits (or economic losses)?.

Reference no: EM1355456

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