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Currently, a monopolist’s profit-maximizing output is 500 units per week and it sells its output at...

Currently, a monopolist’s profit-maximizing output is 500 units per week and it sells its output at a price of $50 per unit. The firm’s total costs are $7,000 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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