2.Assume that Menacing Faces is a monopolist and that the demand curve for its output is

QD = 23.5 - 0.5P

Calculate average revenue, total revenue, and marginal revenue from the demand curve and enter them in the table below. Plot marginal revenue and average revenue on the unit cost graph from Problem 6. Determine long-run equilibrium quantity, price, and profit. Which one of the factories should Betty Joe build?

From the companion website for chapter 9, complete Problem Set C, Question 7. 2. Assume that Menacing Faces is a monopolist and that the demand curve for its output is QD : 23.5 - 0.5P Calculate average revenue, total revenue, and marginal revenue from the demand curve and enter them in the table below. Plot marginal revenue and average revenue on the unit cost graph from Prob- lem 6. Determine long-run equilibrium quantity, price, and prot. Which one of the factories should Betty Joe build