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1 Demand curve with marginal revenue and marginal cost. The x-axis is labeled Quantity (passengers) and runs from 0 to 220 in increments of 20.
1 Demand curve with marginal revenue and marginal cost. The x-axis is labeled "Quantity (passengers)" and runs from 0 to 220 in increments of 20. The y-axis is labeled "Price" and rises from $0 to $330 in increments of $30. The demand curve slopes downward, left to right, from a price of $300 and intersects the x-axis at 200 passengers. The marginal revenue also slopes downward, right to left, from a price of $300, but with a steeper slope, and intersects the x-axis at 100 passengers. The marginal cost sits horizontally at $30 and intersects the marginal revenue at a quantity of 90 passengers and the demand curve at a quantity of 180 passengers. The data for the demand curve is as follows. Quantity (passengers) Price 0 $300 40 $240 80 $180 120 $120 160 $60 200 $0 The data for the marginal revenue is as follows. Quantity (passengers) Price 0 $300 20 $240 40 $180 60 $120 80 $60 100 $0 If this graph represents the market for flights between two cities, and a single airline has a monopoly over that flight route, what will be the market price and quantity of tickets? , Options -A The price will be $30 and the quantity will be 90 , B.0 The price will be $30 and the quantity will be 180 , C.0 The price will be $165 and the quantity will be 45 , D.0 The price will be $165 and the quantity will be 90.,... select any one option
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