the table, Price ($) Q (Demand) TR TC MR MC 22 20 NA NA 20 1 24 18 32 16 3 44 14 4 60 12 5 80 10 104 NOTE: should use the rule of profit maximization) 2. Complete the table. 3. Explain why the table may describe a monopoly firm. 4. Using the table, draw the demand curve, MR curve, and MC curve. 5. Determine the output and price of the firm. 6. Why can the firm not charge higher than the price you choose in #15?

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A:

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