The diagram shows the demand curve facing a single-price monopolist. The firm is currently at pointA on the demand curve, selling 20 units of output at a price ofS160 per unit. The coordinates of each point each correspond to a tick 1800 mark on the graph. 150 a. Calculate TR at each point along the demand curve, Athrough l. 140 Point Total Revenue A 3200 dollars 12\" B 4200 dollars 5 g 100 o 4800 dollars ,3 .3: 80* D 5000 dollars E 4800 dollars 50' F 4200 dollars 40_ G 3200 dollars H 1800 dollars 20' Demand | | Odollars ojrr.,lr.,.r.ll,.1l,. V o 10 20 30 40 50 60 70 80 90 loo nllaniru ,op b. Suppose the rm reduces the price from $160 to $140. Calculate the revenue it will give up on the units it was already selling Calculate the revenue it will gain on the new units it will sell. If the rm reduces the price from $160 to 8140. the rm will give up :8 in revenue on the units it was already selling The rm will gain $ in revenue on the new units it will sell. What is the rm's marginal revenue from moving from pointA to point B? The rm's marginal revenue from moving from pointAto point B is dollars. c. Calculate the marginal revenue for each increment of 10 additional units the rm sells; from B to C. Cto D, and so on. Movement Marginal Revenue B to C dollars 0 to D dollars D to E dollars E to F dollars F to (3 dollars G to H dollars H to l dollars Plot the MR curve on the diagram. Price ($) UHII'I'dIIu I I ' I " .irlnl l I ' l' I l ' I t] 10 20 30 40 5t) 60 Qua ntlty 70 so 9'0'100 ..,.. l 1b 20 30 4'0 50 so Quanllly I I 7'0 so so 100 Plot the MR curve on the diagram. Use the muiti-point drawing tool to draw the marginal revenue curve on the diagram. Only plot the marginal revenues found. The xcoordlnate of each point should be the halfway point of its corresponding interval. Label the curve appropriately. Carefully foiiow the instructions above and oniy draw the required objects. d. Explain in words why the MR curve facing a single-price monopolist is different than the MR curve facing a perfectly competitive rm. A perfectly competitive firm is a V price. while a monopolist must its , so it can sell all it wants at the given market orice in order to increase its sales