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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Table 1 Change in profit (£) Profit Marginal Output (Units) (오) Total Marginal cost (£) Total Revenue cost (£) (오) revenue (오) 3 1 6 2 12 8 3 18 12 4 24 17 30 23 36 30 7 42 38 8 48 47
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