The graph below shows the demand curve and cost data for a firm operating as a monopolist.
Graphing window shows horizontal axis: 0 to 30, vertical axis: 0 to 30. Start Graph, Color red
x
y
0
25
1
24.5
2
24
3
23.5
4
23
5
22.5
6
22
7
21.5
8
21
9
20.5
10
20
11
19.5
12
19
13
18.5
14
18
15
17.5
16
17
17
16.5
18
16
19
15.5
20
15
21
14.5
22
14
23
13.5
24
13
25
12.5
26
12
27
11.5
28
11
29
10.5
30
10
Start Graph, Color blue
x
y
0
25
1
24
2
23
3
22
4
21
5
20
6
19
7
18
8
17
9
16
10
15
11
14
12
13
13
12
14
11
15
10
16
9
17
8
18
7
19
6
20
5
21
4
22
3
23
2
24
1
25
0
26
-1
27
-2
28
-3
29
-4
30
-5
Start Graph, Color black
x
y
0
0
1
1.9
2
3.8
3
5.7
4
7.6
5
9.5
6
11.4
7
13.3
8
15.2
9
17.1
10
19
11
20.9
12
22.8
13
24.7
14
26.6
15
28.5
16
30.4
17
32.3
18
34.2
19
36.1
20
38
21
39.9
22
41.8
23
43.7
24
45.6
Label "Quantity of Kilowatt Hours of Electricity" at pixel coordinates (175,0).Label "Price of Kilowatt Hours of Electricity" at pixel coordinates (0,170).
The blue line shows:
Marginal Revenue
Hint
Box 1: Select the best answer
The red line shows:
Demand Curve
Hint
Box 1: Select the best answer
The black line shows:
Marginal Costs
Hint
Box 1: Select the best answer
The profit maximizing quantity for this monopolist is:
8.62
Hint
Box 1: Select the best answer
What price will the monopolist set in order to maximize profits (or minimize losses)?