The following table shows the demand for water and cost conditions for the New South Springdale Water Utility, a pure monopoly Complete the table. Quantity Price Total Marginal Marginal Average (gallons) (per gallon) Revenue Revenue Costs Total Costs Profit 100 $1.28 ________ ________ $0.15 $1.252 ________ 101 $1.27 ________ ________ $0.18 $1.241 ________ 102 $1.26 ________ ________ $0.21 $1.231 ________ 103 $1.25 ________ ________ $0.23 $1.221 ________ 104 $1.24 ________ ________ $0.26 $1.212
The following table shows the demand for water and cost conditions for the New South Springdale Water Utility, a pure monopoly Complete the table. Quantity Price Total Marginal Marginal Average (gallons) (per gallon) Revenue Revenue Costs Total Costs Profit 100 $1.28 ________ ________ $0.15 $1.252 ________ 101 $1.27 ________ ________ $0.18 $1.241 ________ 102 $1.26 ________ ________ $0.21 $1.231 ________ 103 $1.25 ________ ________ $0.23 $1.221 ________ 104 $1.24 ________ ________ $0.26 $1.212
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
- The following table shows the
demand for water and cost conditions for the New South Springdale Water Utility, a puremonopoly
- Complete the table.
Quantity
(gallons) (per gallon) Revenue Revenue Costs Total Costs Profit
100 $1.28 ________ ________ $0.15 $1.252 ________
101 $1.27 ________ ________ $0.18 $1.241 ________
102 $1.26 ________ ________ $0.21 $1.231 ________
103 $1.25 ________ ________ $0.23 $1.221 ________
104 $1.24 ________ ________ $0.26 $1.212 ________
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