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Mark's Rare Roses is a single-price monopoly. The table gives Mark's demand schedule. Price Quantity (dollars per rosebush) (rosebushes per hour) 14 0 13 1
Mark's Rare Roses is a single-price monopoly. The table gives Mark's demand schedule. Price Quantity (dollars per rosebush) (rosebushes per hour) 14 0 13 1 12 2 11 3 10 4 9 5 Draw the following points on the demand curve to show the quantity demanded 1) when the price of a rosebush is $14. Label it 1. 2) when the price of a rosebush is $9. Label it 2. Draw the demand curve through the points. Label it D. Draw the following points on the marginal revenue curve 1) when the quantity increases from 0 to 1. Label it 3. 2) when the quantity increases from 4 to 5. Label it 4. Draw the marginal revenue curve through the points. Extend it to the y-axis and label it MR. >>> Draw only the objects specified in Price and marginal revenue (dollars per rosebush) 0 2 3 4 5 6 Quantity (rosebushes per hour) he question. Q Q g
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