A monopoly firm sells 20 units of a good at a price of Rs 7. What is the average revenue?
3.5
7
10.5
14
There are 20 identical firms in a market. At a price of Rs 20, firm 1 supplies 25 units of a good, What is the total supply at that price?
A monopoly firm can choose to sell at any price-output combination that ________.
A firm sells 1000 units of the product at a price of Rs 10 per unit. Its elasticity of supply is 3. How many units will the firm be able to sell if the price falls to Rs 7.5 per unit?
If the profit-maximizing output level of a monopoly firm is q=50, the demand curve is p= 20 -0.1q and ATC at the output level of 50 is Rs 7, what is the total profit?