For a monoply A)Plot Margin revenue, demand, marginal cost, to find profit-maximizing price and output.-using midpoint B) using 17/6 as the avg cost what is the profit for the monopolist QD Demand Revenue Marginal Revenue Marginal Cost 0 8 0 NA NA 1 7 7 7 5 2 6 12 5 3 3 5 15 3 2 4 4 16 1 2 5 3 15 -1 3 6 2 12 -3 4 7 1 7 -5 7
For a monoply A)Plot Margin revenue, demand, marginal cost, to find profit-maximizing price and output.-using midpoint B) using 17/6 as the avg cost what is the profit for the monopolist QD Demand Revenue Marginal Revenue Marginal Cost 0 8 0 NA NA 1 7 7 7 5 2 6 12 5 3 3 5 15 3 2 4 4 16 1 2 5 3 15 -1 3 6 2 12 -3 4 7 1 7 -5 7
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter9: Monopoly
Section: Chapter Questions
Problem 33P: Draw a monopolists demand curve, marginal revenue, and marginal cost curves. Identify the...
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Question
For a monoply
A)Plot Margin revenue,
B) using 17/6 as the avg cost what is the profit for the monopolist
QD |
Demand |
Revenue |
Marginal Revenue |
Marginal Cost |
0 |
8 |
0 |
NA |
NA |
1 |
7 |
7 |
7 |
5 |
2 |
6 |
12 |
5 |
3 |
3 |
5 |
15 |
3 |
2 |
4 |
4 |
16 |
1 |
2 |
5 |
3 |
15 |
-1 |
3 |
6 |
2 |
12 |
-3 |
4 |
7 |
1 |
7 |
-5 |
7 |
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