The table shows the demand schedule of a monopolist. Calculate marginal revenue and fill in the revenue column in the table. Assume that output can only be sold in integer amounts (i.e., 1 unit, 2 units, etc.). Once you have filled in marginal revenue, identify the quantity produced by the monopolist in this market. Not all numbers in the answer bank will be used. Quantity Price Marginal cost Marginal revenue $13 Answer Bank $3 $13 $12 $4 $1 $8 $5 $1 $9 $6 $10 $2 $6 $10 $7 $4 $9 $7 $5 $8 $8 $3 $0 $12 How many units does the monopolist produce? 6. units
The table shows the demand schedule of a monopolist. Calculate marginal revenue and fill in the revenue column in the table. Assume that output can only be sold in integer amounts (i.e., 1 unit, 2 units, etc.). Once you have filled in marginal revenue, identify the quantity produced by the monopolist in this market. Not all numbers in the answer bank will be used. Quantity Price Marginal cost Marginal revenue $13 Answer Bank $3 $13 $12 $4 $1 $8 $5 $1 $9 $6 $10 $2 $6 $10 $7 $4 $9 $7 $5 $8 $8 $3 $0 $12 How many units does the monopolist produce? 6. units
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter9: Monopoly
Section: Chapter Questions
Problem 7SQ
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