5. KEY QUESTION Suppose a pure monopolist is faced with the demand schedule shown in the next column and the same cost data as the competitive producer discussed in question 4 at the end of Chapter 9.

Calculate the missing total-revenue and marginal-revenue amounts, and determine the profit-maximizing price and profitearning 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 0 $______ 100 1 ______ $______ 83 2 ______ ______ 71 3 ______ ______ 63 4 ______ ______ 55 5 ______ ______ 48 6 ______ ______ 42 7 ______ ______ 37 8 ______ ______ 33 9 ______ ______ 29 10 ______ ______