Table 3Quantity Price12342N456778910O 10O 171435O 152923178Totalrevenue35641209980Averagerevenue3211MarginalrevenueRefer to Table 3. What price would the monopolist charge in order to sell 8 units of the product?291711-1-7-13

An individual, group, or business that dominates and controls the market for a particular commodity…

Answered: Table 3 Quantity Price 1 2345 2 3 4 5 6…

Table 3 Quantity Price 1 2345 2 3 4 5 6 7 8 9 10 35 29 23 17 8 Total revenue 35 64 120 99 80 Average Marginal revenue revenue 32 11 29 17 11 -1 -7 -13

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Table 3
Quantity Price
1
2
3
4
2N
4567
7
8
9
10
O 10
O 17
14
35
O 15
29
23
17
8
Total
revenue
35
64
120
99
80
Average
revenue
32
11
Marginal
revenue
Refer to Table 3. What price would the monopolist charge in order to sell 8 units of the product?
29
17
11
-1
-7
-13

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