Q. A firm's marginal revenue is $41 and its marginal cost is $19. what amount of profit does the firm fail to pick up if its management refuse to increase by one unit.
Q. Suppose the Clean Springs Water firm has a monopoly on bottled water sales in California. If the price of tap water increases, illustrate what is the change in Clean-Springs' profit-maximizing levels of output, price and profit? Explain in words and with graph.