The diagram at right shows the demand curve, marginal revenue curve, and cost curves for a single-price monopolist that owns the only golf courses on Eagle Island. The monopolist's product is 18-hole golf games. a. Now suppose the monopolist is able to charge a different price on each different unit sold. What would be the total number of rounds of golf sold per week? The total number of rounds sold per week is rounds. (Round your response to the nearest whole number.) Price (dollars per round of golf) 200- 180- 160- 140- 120- 100- 80- 60- 40- 20- 0- MC ATC MR 50 100 150 200 250 300 350 400 450 50 Quantity (rounds of golf per week)
The diagram at right shows the demand curve, marginal revenue curve, and cost curves for a single-price monopolist that owns the only golf courses on Eagle Island. The monopolist's product is 18-hole golf games. a. Now suppose the monopolist is able to charge a different price on each different unit sold. What would be the total number of rounds of golf sold per week? The total number of rounds sold per week is rounds. (Round your response to the nearest whole number.) Price (dollars per round of golf) 200- 180- 160- 140- 120- 100- 80- 60- 40- 20- 0- MC ATC MR 50 100 150 200 250 300 350 400 450 50 Quantity (rounds of golf per week)
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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Transcribed Image Text:The diagram at right shows the demand curve, marginal revenue curve, and cost curves for a
single-price monopolist that owns the only golf courses on Eagle Island. The monopolist's product
is 18-hole golf games.
a. Now suppose the monopolist is able to charge a different price on each different unit sold.
What would be the total number of rounds of golf sold per week?
The total number of rounds sold per week is rounds. (Round your response to the nearest
whole number.)
Price (dollars per round of golf)
200-
180-
160-
140-
120-
100-
80+
60+
40-
20-
0-
0
MC
ATC
D
MR
50 100 150 200 250 300 350 400 450 500
Quantity (rounds of golf per week)
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