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Your food-services company has been named as the monopoly provider of meals at a small university. ...

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. Assuming this firm is a single-price monopolist, which of the following best approximates the firm's profit-maximizing output and price?

▸ 250 meals at $0.75 per meal

▸ 550 meals at $3.25 per meal

▸ 450 meals at $3.75 per meal

▸ 350 meals at $2.50 per meal

▸ 150 meals at $5.50 per meal

Textbook

Microeconomics

Edition: 17^th

Author: Ragan

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