Currently, a monopolist's profit-maximizing output is 200 units per week and it sells its output at a price of $70 per unit. The firm's total costs are $10,000 per week. The firm is maximizing its profit, and it earns $35 in extra revenue from the sale of the last unit produced each week.
Instructions:
Enter your answers as whole numbers.
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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