You have been hired by a monopoly to analyze the following production data and prepare a proposal suggesting how to maximize profits.
The data provided by the company is incomplete. You are to complete columns TR and ATC in the chart and make a short-run recommendation, using one of the recommendation actions from the list below. Remember that your goal is to maximize profits. Prepare a one page paper that includes your solutions to the table, your recommendation action, and justification supporting your recommendation.
- Remain at current output level.
- Increase output
- Decrease output
- Shut down
- Uncertain-the figures provided cannot possibly be correct