Currently, a monopolist's profit-maximizing output is 600 units per week and it sells its output at a price of $40 per unit. The firm's total costs are $6,000 per week. The firm is maximizing its profit, and it earns $25 in extra revenue from the sale of the last unit produced each week.
a. What are the firm's weekly economic profits?
b. What is the firm's marginal cost?
c. What is the firm's average total cost?
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