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Market demand for the nuclear substance pluranium is given below, along with the TR for the given demand schedule. Pluranium is supplied to the world market by a monopolist. Suppose that the marginal cost of supplying an extra megatonne of pluranium is $20 and the business has FC=$60. Calculate the marginal revenue of producing each unit P=$80 and Q=0 and TR=$0 MR=$50 Correct Answer MR=NA P=$70 and Q=1 and TR=$70 MR=-$10 Correct Answer MR=$70

Market demand for the nuclear substance pluranium is given below, along with the TR for the given demand schedule. Pluranium is supplied to the world market by a monopolist. Suppose that the marginal cost of supplying an extra megatonne of pluranium is $20 and the business has FC=$60. Calculate the marginal revenue of producing each unit P=$80 and Q=0 and TR=$0 MR=$50 Correct Answer MR=NA P=$70 and Q=1 and TR=$70 MR=-$10 Correct Answer MR=$70

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Market demand for the nuclear substance pluranium is given below, along with the TR for the given demand schedule. Pluranium is supplied to the world market by a monopolist. Suppose that the marginal cost of supplying an extra megatonne of pluranium is $20 and the business has FC=$60. Calculate the marginal revenue of producing each unit P=$80 and Q=0 and TR=$0 MR=$50 Correct Answer MR=NA P=$70 and Q=1 and TR=$70 MR=-$10 Correct Answer MR=$70
Transcribed Image Text:Market demand for the nuclear substance pluranium is given below, along with the TR for the given demand schedule. Pluranium is supplied to the world market by a monopolist. Suppose that the marginal cost of supplying an extra megatonne of pluranium is $20 and the business has FC=$60. Calculate the marginal revenue of producing each unit P=$80 and Q=0 and TR=$0 MR=$50 Correct Answer MR=NA P=$70 and Q=1 and TR=$70 MR=-$10 Correct Answer MR=$70
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