What is this producers profit-maximizing output level

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Reference no: EM13231839

The marginal revenue curve of a monopoly crosses its marginal cost curve at $30 per unit, and an output of 2 million units. The price that consumers are willing and able to pay for the output is $40. If it produces this output, the firm's average total cost is $43 per unit and its average fixed cost is $8 per unit. What is this producer's profit-maximizing (loss-minimizing) output level? What are the firm's economic profits (or economic losses)?

Reference no: EM13231839

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