1. Refer to the information provided in Table 13.1 below to answer the questions that follow.

Table 13.1

Quantity	Price ($)	TR	MR	TC	MC	ATC	Economic Profit
2,000	4.0	8,000		2,000	1.0	1.0	6,000
2,400	3.5	8,400	1.0	2,400	1.0	1.0	6,000
2,800	3.0	8,400	-	2,800	1.0	1.0	5,600
3,200	2.5	8,000	(1.0)	3,200	1.0	1.0	4,800
3,600	2.0	7,200	(2.0)	3,600	1.0	1.0	3,600
4,000	1.5	6,000	(3.0)	4,000	1.0	1.0	2,000
4,400	1.0	4,400	(4.0)	4,400	1.0	1.0	-

1) Refer to Table 13.1. If a monopoly faces the demand schedule given in the table, what is its marginal revenue from the 2400th unit it sells?

2) Refer to Table 13.1. If a monopoly faces the demand schedule given in the table, what is its marginal revenue from the 4000th unit it sells?

3) Refer to Table 13.1. If a monopoly faces the demand schedule given in the table, at what level of output is its marginal revenue maximized?

4) Refer to Table 13.1. If a monopoly faces the demand schedule given in the table, its marginal revenue is positive

5) Refer to Table 13.1. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $1 per unit of providing the product, what is the level of output that would maximize its profits?

6) Refer to Table 13.1. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $1 per unit of providing the product, what price should it charge per unit of output so as to maximize its profits?

7) Refer to Table 13.1. If a monopoly faces the demand schedule given in the table and has a constant marginal and average cost of $1 per unit of providing the product, what is the maximum profit the monopoly can earn?