Q.1 Calculate the Marginal Revenue in the table below and draw an approximate (sketch diagram) the diagram showing the marginal revenue curve and the demandcurve.

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Q.'l Calculate the Marginal Revenue in the table below and draw an approximate (sketch diagram) the diagram showing the marginal revenue curve and the demandcurve. Assume that the monopolist decreased the price from $7 to $6 in order to increase sales from 4 to 5 units: 0 the output effect on total revenue due to an increase in output by one (the fifth) unit is equal to$ 0 the price eect on total revenue due to a decrease in price of $1 for the previous four units is equalto 5 As such. the net impact of the output effect and the price effect on the Marginal Revenue is equal to $ , and the firm increases total revenue by decreasing the price. Price Quantity a. What area(s) of the graph represent(s) total revenue for this firm if it was prot maximizing? b. What area(s) of the graph represent(s) total cost for this rm if it was prot maximizing? d. What area(s) of the graph represent(s) deadweig ht loss if the rm was prot maximizing