Question

1. Profit Maximization under Monopoly.

1.1. Fill in the blanks in the following table using Excel formulas:

Q	P	TR	TFC	TVC	AVC	TC	AC		MR	MC
0			311,250		0.00
10,000					12.00
20,000					11.50
30,000					12.67
40,000					14.25
50,000					16.00
60,000					17.83
70,000					19.71

The demand function is given by: P=50-0.00025Q

1.2. Construct line charts for the Average Cost (AC), Average Variable Cost (AVC), Marginal Cost (MC), Marginal Revenue (MR), and Average Revenue (AR) on a Cartesian coordinate system.