Principles of Economics: Microeconomics - Office Hours: Calculating Monopoly Profit

In our video on Maximizing Profit Under Monopoly, we cover how firms can use their market power to raise the price of a good well beyond its marginal cost. A practice question from the Microeconomics final exam asked you to find the total profit of a monopolist under certain conditions. In this Office Hours session, Mary Clare Peate, Marginal Revolution University’s Instructional Designer, helps you solve that problem. Vote on a topic for our next Office Hours video: http://bit.ly/1psatWs Additional practice questions: http://bit.ly/1nM7ciO Maximizing Profit Under Monopoly: http://bit.ly/22i0nbT Principles of Microeconomics Course: http://bit.ly/20VablY Help us caption & translate this video! http://amara.org/v/ICs6/