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What is the marginal revenue and marginal cost for the above monopolist at 3 units of output? A) MR is $14 and MC is $4 B) MR is $2 and MC is $21 C) MR is $10 and MC is $4 D) MR is $14 and MC is $21

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

What is the marginal revenue and marginal cost for the above monopolist at 3 units of output?

MR is $14 and MC is $4

MR is $2 and MC is $21

MR is $10 and MC is $4

MR is $14 and MC is $21

Quantity
0
1
2
3
4
5
6
Price
$20
$18
$16
$14
$12
$10
$8
TC
T
$12
$17
$21
$26
$34
$45

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