The table below presents the demand schedule and marginal costs facing a monopolist producer. P (S) MC ($) Q 0 1 2 3 4 5 6 7 8 9 10 10.05 9.05 8.05 7.05 6.05 5.05 4.05 3.05 2.05 1.05 0 TR ($) 0 units. MR ($) 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 a. Fill in the total revenue and marginal revenue columns. Instructions: Round your answers to two decimal places and include a negative sign if appropriate. Leave no cells blank. Enter O if appropriate. b. What is the profit-maximizing level of output? Instructions: Round your answers to the nearest whole number. c. What price will the monopolist charge for the quantity in part b? Instructions: Round your answers to the nearest whole number. per unit.

The table below presents the demand schedule and marginal costs facing a monopolist producer. P (S) MC ($) Q 0 1 2 3 4 5 6 7 8 9 10 10.05 9.05 8.05 7.05 6.05 5.05 4.05 3.05 2.05 1.05 0 TR ($) 0 units. MR ($) 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 a. Fill in the total revenue and marginal revenue columns. Instructions: Round your answers to two decimal places and include a negative sign if appropriate. Leave no cells blank. Enter O if appropriate. b. What is the profit-maximizing level of output? Instructions: Round your answers to the nearest whole number. c. What price will the monopolist charge for the quantity in part b? Instructions: Round your answers to the nearest whole number. per unit.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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