ECO 112 - Monopoly Monte Carlo Questions The cost schedule for a typical avocado producer is below. The market for avocados is perfectly competitive. Total Cost Total Revenue Marginal Revenue Marginal Cost 000 X 1. Fill in the Total Revenue column. 80 200 2. Fill in the Marginal Revenue column. 3. Fill in the Marginal Cost column. 4. If this is a monopoly, what are the price charged, quantity produced, and profit earned by the monopoly? 5. If this is a perfectly competitive market, what are the price charged, quantity produced, and profit earned by this firm? 6. On a graph, sketch the demand curve, the marginal revenue curve, and the marginal cost curve