The table below shows a market demand a monopolist is facing. Use the table to answer questions #4 through #6.| Quantity (Q) | Price (P) | Total Rev. (TR) | Average Rev. (AR) | Marginal Rev. (MR) | Marginal Cost (MC) | Total Cost (TC) | Economic Profit (Π) ||--------------|-----------|-----------------|-------------------|-------------------|-------------------|----------------|---------------------|| 0 | | 0 | | | | 0 | 0 || 1 | 35 | 35 | | | 11 | 11 | 24 || 2 | 32 | 64 | 32 | 29 | 11 | 22 | 42 || 3 | 29 | | | 17 | 11 | | || 4 | | | | 11 | 11 | | || 5 | 23 | | | | 11 | | || 6 | | 120 | | | 11 | | || 7 | 17 | | | -1 | 11 | | || 8 | | | | -7 | 11 | | || 9 | | 99 | | -13 | 11 | | || 10 | 8 | 80 | 8 | | 11 | | |[Extra Credit 2 pts] Fill all blanks in Table 1 on Quiz #5 handout. You will receive extra credit if you submit the completed table via email.**Q4.** If the monopolist sells 8 units of its product, how much total revenue (TR) will it receive from the sale?- ○ 40- ○ 87- ○ 104- ○ 112- ○ 164

Quantity (Q) Price(P) Total Revenue(TR) Average Revenue(AR) Marginal Revenue(MR) Marginal Cost(MC)…

The following table (see MS Word/PDF version of Take-Home QUIZ #5 handout, page 1) shows a market demand a monopolist Is facing. Jse the table to answer questions #4 thru #6. Average Marginal Marginal Rev. Total Economic Quantity Price Total Rev. Rev. Cost Cost Profit (Q) (P) (TR) (AR) (MR) (MC) (TC) (I) ====== ==== =====%3D 1 35 35 11 11 24 64 32 29 11 22 42 29 11 4 17 11 23 11 11 120 11 7 17 -1 11 -7 11 99 11 -13 11 10 80 11 Extra Credit 2 ptsl Fill all blanks in the Table 1 on the Quiz #5 handout You will receive extra credit if vou submit the completed table via

The following table (see MS Word/PDF version of Take-Home QUIZ #5 handout, page 1) shows a market demand a monopolist Is facing. Jse the table to answer questions #4 thru #6. Average Marginal Marginal Rev. Total Economic Quantity Price Total Rev. Rev. Cost Cost Profit (Q) (P) (TR) (AR) (MR) (MC) (TC) (I) ====== ==== =====%3D 1 35 35 11 11 24 64 32 29 11 22 42 29 11 4 17 11 23 11 11 120 11 7 17 -1 11 -7 11 99 11 -13 11 10 80 11 Extra Credit 2 ptsl Fill all blanks in the Table 1 on the Quiz #5 handout You will receive extra credit if vou submit the completed table via

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Dreher's Designer Shirt Company, a monopolist, has the following cost and revenue information. What is the marginal revenue from selling the 5th shirt? COSTS Quantity Produced ($) 1 2 3 4 5 6 7 8 $120 Total Cost Marginal $110 100 140 184 230 280 335 395 475 575 Cost REVENUES Quantity Demanded ($) 0 1 2 3 4 5 6 7 8 Price 170 160 150 140 130 120 110 100 95 Total Revenue Marginal Revenue
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O Macmillan Learning (Figure: Determining Monopolist Profit) Based on the graph, the profit-maximizing price is at point Price and Cost h Of. O g. d. C MR Output MC ATC
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Figure 13.9 Revenue and costs 27 24.50 21 13 # Demand MO 600 800 940 1100 MC ATC B) $11.50 C) $21 D) There is no difference. Quantity Figure 13.9 shows the demand and cost curves for a monopolist. Refer to Figure 13.9. At the profit-maximizing quantity, what is the difference between the monopoly's price and the marginal cost of production? A) $8
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