The following table shows quantity, total revenue, marginal revenue, total cost, and marginal cost for an unregulated natural monopoly firm. Calculate the price that corresponds to the profit-maximizing quantity of goods. Round your answer to two decimal places if necessary. Total Marginal Total Marginal Quantity Revenue Revenue Cost Cost 1 $110.00 $110.00 $105.00 2 $179.00 $69.00 $160.00 $55.00 3 $228.00 $49.00 $200.00 $40.00 4 $258.00 $30.00 $230.00 $30.00 5 $275.00 $17.00 $266.00 $36.00 6 $270.00 - $5.00 $307.50 $41.50
The following table shows quantity, total revenue, marginal revenue, total cost, and marginal cost for an unregulated natural monopoly firm. Calculate the price that corresponds to the profit-maximizing quantity of goods. Round your answer to two decimal places if necessary. Total Marginal Total Marginal Quantity Revenue Revenue Cost Cost 1 $110.00 $110.00 $105.00 2 $179.00 $69.00 $160.00 $55.00 3 $228.00 $49.00 $200.00 $40.00 4 $258.00 $30.00 $230.00 $30.00 5 $275.00 $17.00 $266.00 $36.00 6 $270.00 - $5.00 $307.50 $41.50
Chapter13: Monopoly And Antitrust
Section: Chapter Questions
Problem 7P
Related questions
Question
![The following table shows quantity, total revenue, marginal revenue, total cost, and marginal cost for an unregulated
natural monopoly firm. Calculate the price that corresponds to the profit-maximizing quantity of goods. Round your
answer to two decimal places if necessary.
Total
Marginal
Total
Marginal
Quantity
Revenue
Revenue
Cost
Cost
1
$110.00
$110.00
$105.00
2
$179.00
$69.00
$160.00
$55.00
3
$228.00
$49.00
$200.00
$40.00
4
$258.00
$30.00
$230.00
$30.00
5
$275.00
$17.00
$266.00
$36.00
6
$270.00
- $5.00
$307.50
$41.50](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ffcde61d9-fd75-4191-b0f5-35d254ec5020%2F897e64ae-78e9-4a92-9779-d303f5a7c1c4%2Fh9ecq39_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following table shows quantity, total revenue, marginal revenue, total cost, and marginal cost for an unregulated
natural monopoly firm. Calculate the price that corresponds to the profit-maximizing quantity of goods. Round your
answer to two decimal places if necessary.
Total
Marginal
Total
Marginal
Quantity
Revenue
Revenue
Cost
Cost
1
$110.00
$110.00
$105.00
2
$179.00
$69.00
$160.00
$55.00
3
$228.00
$49.00
$200.00
$40.00
4
$258.00
$30.00
$230.00
$30.00
5
$275.00
$17.00
$266.00
$36.00
6
$270.00
- $5.00
$307.50
$41.50
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