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Refer to the Following Table That Gives the Demand Facing  Price  Quartity $202015401065570\begin{array} { c c } \text { Price } & \text { Quartity } \\\hline \$ 20 & 20 \\15 & 40 \\10 & 65 \\5 & 70\end{array}

Question 2

Multiple Choice

Refer to the following table that gives the demand facing a monopolist:  Price  Quartity $202015401065570\begin{array} { c c } \text { Price } & \text { Quartity } \\\hline \$ 20 & 20 \\15 & 40 \\10 & 65 \\5 & 70\end{array} If a firm earns profits of $250 by producing 40 units of output,the firm charges a price of _____ and has total costs of ______.


A) $15,$250
B) $15,$350
C) $20,$150
D) $600,$450
E) none of the above

Correct Answer:

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