Suppose a pure monopolist is faced with the demand schedule shown below and the same cost data

Question:

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 10. Calculate the missing total€revenue and marginal€revenue 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.

Quantity Total Marginal Price Demanded Revenue Revenue $115 100 83 71 63 4 55 48 6. 42 37 33 29 10 %24