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Profit maximizing level of output

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In the follow situation for a monopoly firm in the short run, what is the profit maximizing level of output. Please show your work and be as precise as possible.

Q        P        FC      MC______________________________________

0                     $25

                                   $5

1         $20                

                                   $6

2         $18

                                   $7

3         $16

                                   $8

4         $14

2. If a street artist thinks that customers are have the following demand:

Price $90 Quantity demanded 1

Price $70 Quantity demanded 2

Price $50 Quantity demanded 3

Price $30 Quantity demanded 4

And the fixed cost for her business is $40, while it costs her $60 to paint each additional painting, how many paintings should she sell?

Would she do better if she could price discriminate? Why?

Reference no: EM131739156

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