(Answered) Usenbspthe following information for a monopoly firm to

Management Studies

Use the following information for a monopoly firm to answer questions 27 through 29. Assume that Q equals the level of output and all costs are economic costs.

Total Revenue = 250Q - 0.5(Q squared)

Marginal Revenue = 250 - Q

Total cost = 2,000 + 50Q + 0.5(Q squared)

Marginal cost = 50 + Q

At the profit-maximizing or loss-minimizing output level, economic profit would equal:

Under these conditions, the firm should produce an output of:

At an output of 200 units, total costs equal:

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