1. Use the following demand schedule to determine total revenue and marginal revenue for each possible level of sales: table below: Product Quantity Price Demanded Total Revenue Marginal Revenue $2 0 2 I 2 2 2 3 2 2 4 5 a. What can you conclude about the structure of the industry in which this firm is operating? Explain use examples. b. Graph the demand, total-revenue, and marginal-revenue curves for this firm c. Why do the demand and marginal-revenue curves coincide? d. "Marginal revenue is the change in total revenue associated with additional units of output." Explain verbally and graphically, using the data in the table.

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