(All Steps) A hypothetical monopoly firm is characterized by the following diagram. Assuming that the above firm is a profit maximizer operating in the

Question: A hypothetical monopoly firm is characterized by the following diagram.

Assuming that the above firm is a profit maximizer operating in the short run, determine its optimal price? ( 15 points)
Determine the firm's profit per unit (15 points).
What is the ATC in dollars? (15 points)
If the above monopolist were to behave like a perfectly competitive firm (operating in the long run), determine its price (15 points).

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(All Steps) A hypothetical monopoly firm is characterized by the following diagram. Assuming that the above firm is a profit maximizer operating in the

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