The following table shows the demand curve facing a monopolist who produces at a constant marginal cost of $8.00:

Price

Quantity

18

0

16

2

14

4

12

6

10

8

8

10

6

12

4

14

2

16

0

18

Calculate thefirm's marginal revenue curve.

Thefirm's marginal revenue(MR) curve is

A.

MR=100.50Q.

B.

MR=181.00Q.

C.

MR=180.25Q.

D.

MR=182.00Q.

E.

MR=101.00Q.

What are thefirm's profit-maximizing output andprice?

Thefirm's profit-maximizing output is

nothing

units.(Enter your response rounded to two decimalplaces.)

The corresponding price is $

nothing

. (Enter your response rounded to two decimalplaces.)

What is thefirm's profit?

Profit equals $

nothing

. (Enter your response rounded to two decimalplaces.)

What would the equilibrium price and quantity be in a competitiveindustry?

The competitive price would be $

nothing

. (Enter your response rounded to two decimalplaces.)

The competitive quantity would be

nothing

units. (Enter your response rounded to two decimalplaces.)

What would the social gain be if this monopolist were forced to produce and price at the competitiveequilibrium?

The social gain would be equal to $

nothing

. (Enter your response rounded to two decimalplaces.)

Who would gain and lose as aresult?

The monopoly would

lose

gain

an amount equal to $

nothing

. (Enter your response rounded to two decimalplaces.)

Consumers would

lose

gain

an amount equal to $

nothing

. (Enter your response rounded to two decimalplaces.)

Click to select your answer(s).