A) Why is price equal to marginal revenue for a perfectly competitive firm but not for a monopolist?

B) Given Table 1, what can you conclude about the structure of the industry in which this firm is operating? Explain. (4

Table 1: Lin's Firm (Hypothetical Data)

Price	Quantity	Total revenue (TR)	Marginal revenue (MR)	Average fixed cost	Average variable cost	Average total cost	Marginal cost
($)	demanded	($)	($)	($)	($)	($)	($)
100	1	100	100	60.00	45.00	105.00	45
83	2	166	66	30.00	42.50	72.50	40
71	3	213	47	20.00	40.00	60.00	35
63	4	252	39	15.00	37.50	52.50	30
55	5	275	23	12.00	37.00	49.00	35
48	6	288	13	10.00	37.50	47.50	40
42	7	294	6	8.57	38.57	47.14	45
37	8	296	2	7.50	40.63	48.13	55
33	9	297	1	6.67	43.33	50.00	65
29	10	290	- 7	6.00	46.50	52.50	75

C) Given Table 1, determine the profit maximizing price and output.