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Consider the following Quantity, Price, and Total Cost schedule for a single price monopolist Price per unit Quantity Total Revenue Marginal Revenue Total Cost Marginal
Consider the following Quantity, Price, and Total Cost schedule for a single price monopolist
Price per unit | Quantity | Total Revenue | Marginal Revenue | Total Cost | Marginal Cost | Average Total Cost |
10 | 0 | 100 | ||||
8 | 100 | 300 | ||||
6 | 200 | 700 | ||||
4 | 300 | 1300 | ||||
2 | 400 | 2100 | ||||
0 | 500 | 3100 |
Complete the table and show the monopolist graphically; assume standard "U" shaped cost curves instead of the specific costs from the table
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