1. Suppose a pure monopolist is faced with the demand schedule shown below and the same cost data as the competitive producer discussed in problem 4 at the end of Chapter 8. Calculate the missing total-revenue and marginalrevenue amounts, and determine the profit-maximizing price and profit-maximizing output for this monopolist.

What is the monopolist’s profit? Verify your answer graphically and by comparing total revenue and total cost. LO2

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Price Quantity Demanded Total Revenue Marginal Revenue $115 0 $ $ 100 | 83 2 71 3 63 4 55 5 48 6 42 7 37 8 33 9 29 10