Dreher's Designer Shirt Company, a monopolist, has the following cost and revenue information. What is the marginal revenue from selling the 5th shirt? COSTS Quantity Produced ($) 0 1 2 3 4 5 6 7 Total Cost Marginal 8 100 140 184 230 280 335 395 475 575 Cost REVENUES Quantity Demanded ($) 0 1 2 3 4 5 6 7 Price 8 170 160 150 140 130 120 110 100 95 Total Revenue Marginal Revenue
Dreher's Designer Shirt Company, a monopolist, has the following cost and revenue information. What is the marginal revenue from selling the 5th shirt? COSTS Quantity Produced ($) 0 1 2 3 4 5 6 7 Total Cost Marginal 8 100 140 184 230 280 335 395 475 575 Cost REVENUES Quantity Demanded ($) 0 1 2 3 4 5 6 7 Price 8 170 160 150 140 130 120 110 100 95 Total Revenue Marginal Revenue
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
![Dreher's Designer Shirt Company, a monopolist, has the following cost and revenue
information. What is the marginal revenue from selling the 5th shirt?
COSTS
Quantity
Produced ($)
1
2
3
4
5
6
7
8
$120
Total Cost Marginal
$110
100
140
184
230
280
335
395
475
575
Cost
REVENUES
Quantity
Demanded ($)
0
1
2
3
4
5
6
7
8
Price
170
160
150
140
130
120
110
100
95
Total
Revenue
Marginal
Revenue](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbffbcb56-89aa-4077-9854-faa3b8b4c543%2Fb1eef9ad-d90c-4767-ae74-49875a1fdcc9%2Fr484r8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Dreher's Designer Shirt Company, a monopolist, has the following cost and revenue
information. What is the marginal revenue from selling the 5th shirt?
COSTS
Quantity
Produced ($)
1
2
3
4
5
6
7
8
$120
Total Cost Marginal
$110
100
140
184
230
280
335
395
475
575
Cost
REVENUES
Quantity
Demanded ($)
0
1
2
3
4
5
6
7
8
Price
170
160
150
140
130
120
110
100
95
Total
Revenue
Marginal
Revenue
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