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Question
Table 15-3| Price | Quantity | Total Revenue | Marginal Revenue | Total Cost | Marginal Cost |
| $17 | 3 | $51 | ----- | $56 | ----- |
| 16 | 4 | 64 | $13 | 63 | $7 |
| 15 | 5 | 75 | 11 | 71 | 8 |
| 14 | 6 | 84 | 9 | 80 | 9 |
| 13 | 7 | 91 | 7 | 90 | 10 |
| 12 | 8 | 96 | 5 | 101 | 11 |
Assume Table 15-3 gives the monthly demand and costs for subscriptions to basic cable for Comcast, a cable television monopoly in Philadelphia.
Refer to Table 15-3. If Comcast wants to maximize its profits, what price (P) should it charge and how many cable subscriptions per month (Q) should it sell?
A) P = $12; Q = 8
B) P = $14; Q = 6
C) P = $16; Q = 4
D) P = $15: Q = 5
Answer
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Related questions
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