Table 15-18Tommy's Tie Company, a monopolist, has the following cost andrevenue information. Assume that Tommy's is able to engage inperfect price discrimination.COSTSREVENUESQuantity Total Cost Marginal QuantityDemandedPriceTotalMarginalProducedCostRevenue Revenue0 $100$170--$1401$1602$184$1503$2303$1404$2804$1305$3355$1206$3956$1107$4757$1008$5758$95Refer to Table 15-18. If the monopolist can engage in perfectprice discrimination, what is the marginal revenue from sellingthe 8th tie?$80$60$45$95

To get to the marginal revenue from selling the 8th tie, the table has to be filled of the part of revenues:So, the marginal revenue from selling the 8th tie would be: The total revenue from selling the 8th tie-total revenue from selling the 7th tie=$760-$700=$60Answer: b) $60

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Economics

Table 15-18 Tommy's Tie Company, a monopolist, has the following cost and revenue information. Assume that Tommy's is able to engage in perfect price discrimination. COSTS REVENUES Quantity Total Cost Marginal Quantity Price Cost Demanded Total Marginal Produced Revenue Revenue $100 $170 1 $140 $160 $184 $150 $230 $140 4 $280 4 $130 $335 5 $120 6 $395 6 $110 7 $475 7 $100 8 $575 8 $95 Refer to Table 15-18. If the monopolist can engage in perfect price discrimination, what is the marginal revenue from selling the 8th tie? $80 $60 $45 $95

Table 15-18 Tommy's Tie Company, a monopolist, has the following cost and revenue information. Assume that Tommy's is able to engage in perfect price discrimination. COSTS REVENUES Quantity Total Cost Marginal Quantity Price Cost Demanded Total Marginal Produced Revenue Revenue $100 $170 1 $140 $160 $184 $150 $230 $140 4 $280 4 $130 $335 5 $120 6 $395 6 $110 7 $475 7 $100 8 $575 8 $95 Refer to Table 15-18. If the monopolist can engage in perfect price discrimination, what is the marginal revenue from selling the 8th tie? $80 $60 $45 $95

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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