Monopoly Market Demand and MR (marginal revenue) Curves: Monopoly Market HomeWORK 6 (Que by 10 PM, 2. draw MR 6 19 (Thry) P ($ ) and Demand CURVES Note1: the demand curve is "???????? 50 slopping". In fact, since only one firm is in the market, whole ?????? demand 40 belongs to the firm. In other words, the "demand curve facing a monopoly firm" 30 is the same as ?????? demand curve. 20 1 . completetable 10 0 1 2 3 4 5 6 (quantity) (price) (total revenue) (marginal revenue) -10 Given Given Derived Derived 0 $50 0=($50x0) NA Note2: For a monopoly firm, $45 $45=($45x1) $45 (=($45-$0)/(1-0)) . P ? MR for Q (ignore Q=0 or 1) 2 $40 . D-curve and MR-curve: ????????? 3 $35 slopping 4 $30 . D-curve lies ????? MR-curve 5 $25 6 $20 (can you compare monopoly and competitive firms?) Draft version; Do not circulate in any form; Class use only