You have been hired by a monopoly to analyze the following production data and prepare a proposal suggesting how to maximize profits.

 Here is what the chart looks like:

Monolopy Firm

Price      MR      TR      Q           TC      MC     ATC     AVC

6.4        3.1               1000     6400     3                     3.24

The data provided by the company is incomplete.

You are to complete columns TR and ATC in the chart and make a short run recommendation, using one of the recommendatioon actions from the list below. Remember that your goal is to maximize profits.

Prepare a one page paper that includes your solutions to the table, your recommendation action, and justification supporting your recommendation.

Recommendation actions:

1. Remain at current output level

2. Increase output

3. Decrease output

4. Shut down

5. Uncertain-the figures provided can not possibly be correct