Productive and allocative efficiency of monopoly firm

Reference no: EM1317024

Use the following data for a pure monopoly to calculate the firm's:

a) total revenue, marginal revenue, marginal costs, and average total cost;

b) its profit-maximizing output level and produce price;

c) its profit.

d) Use the price-cost formula to determine whether or not the firm's operations are productively-efficient. (e) Use the price-cost formula to determine whether or not the firm's operations are allocatively efficient.

Q (P = AR)	TR	MR		TC	MC	ATC
0	$ 0		$ 60
1	58		100
2	57		136
3	56		168
4	55		200
5	54		235
6	53		276
7	52		322
8	51		376

Reference no: EM1317024

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