Fill the following table for a monopolist firm. Marginal revenue Total revenue Output Price 0 $100 1 $85 2 $70 3 $55 4 $40 5 $25 Draw the demand curve and the marginal revenue curve for the above table. And explain the relationship between the marginal revenue and the price

Fill the following table for a monopolist firm. Marginal revenue Total revenue Output Price 0 $100 1 $85 2 $70 3 $55 4 $40 5 $25 Draw the demand curve and the marginal revenue curve for the above table. And explain the relationship between the marginal revenue and the price

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter8: Monopoly

Section: Chapter Questions

Problem 6SQP

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Question

Fill the following table for a monopolist firm.

Marginal revenue	Total revenue	Output	Price
		0	$100
		1	$85
		2	$70
		3	$55
		4	$40
		5	$25

Draw the demand curve and the marginal revenue curve for the above table. And explain the relationship between the marginal revenue and the price.

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