Biology Forums - Study Force

Your food-services company has been named as the monopoly provider of meals at a small university. The cost and demand schedules are:

Sold per Day	Price per Meal $	Total Cost $	Total Revenue $
0	6.00	500	0
100	5.50	550	550
200	5.00	600	1000
300	4.50	675	1350
400	4.00	800	1600
500	3.50	950	1750
600	3.00	1200	1800
700	2.50	1600	1750

TABLE 10-2

Refer to Table 10-2. Assume this firm is a single-price monopolist. If this firm provided 400 meals per day, its profits per day would be ________; if the firm provided 700 meals per day its profits would be ________.

▸ $800; $150

▸ $400; $150

▸ $400; -$400

▸ $1750; $1600

▸ $1600; $1750

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