Quantity Price123456789OQ=4Q=5Q=6$35Q=7$29$23$17Total Revenue$35$64$120$99AverageRevenue$32$11MarginalRevenueRefer to the table. Assume this monopolist's marginal cost is constant at $17. What is the profit-maximizing quantity(Q) of output?$29$17$11-$1-$7-$13

Monopolies represent solitary entities exercising full authority over the creation and dissemination…

Quantity Price Total Revenue $35 $64 1 2 3 4 5 6 7 8 9 Q=4 Q=5 $35 Q=6 09-7 $29 $23 $17 $120 $99 Average Revenue $32 $11 Marginal Revenue $29 $17 $11 Refer to the table. Assume this monopolist's marginal cost is constant at $17. What is the profit-maximizing quantity (Q) of output? -$1 -$7 $13

Quantity Price Total Revenue $35 $64 1 2 3 4 5 6 7 8 9 Q=4 Q=5 $35 Q=6 09-7 $29 $23 $17 $120 $99 Average Revenue $32 $11 Marginal Revenue $29 $17 $11 Refer to the table. Assume this monopolist's marginal cost is constant at $17. What is the profit-maximizing quantity (Q) of output? -$1 -$7 $13

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter14: Indirect Price Discrimination

Section: Chapter Questions

Problem 5MC

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Question

Quantity Price
1
2
3
4
5
6
7
8
9
OQ=4
Q=5
Q=6
$35
Q=7
$29
$23
$17
Total Revenue
$35
$64
$120
$99
Average
Revenue
$32
$11
Marginal
Revenue
Refer to the table. Assume this monopolist's marginal cost is constant at $17. What is the profit-maximizing quantity
(Q) of output?
$29
$17
$11
-$1
-$7
-$13

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