Question
The table below shows the cost and revenue for a pure monopoly. COST REVENUE Q TC ATC MC TR MR AR/P 0 $20 0 $0
The table below shows the cost and revenue for a pure monopoly.
| COST | REVENUE | |||||
| Q | TC | ATC | MC | TR | MR | AR/P |
| 0 | $20 | 0 | $0 | |||
| 1 | $40 | 40 | $30 | |||
| 2 | $50 | 25 | $45 | |||
| 3 | $55 | 18.33 | $50 | |||
| 4 | $63 | 15.75 | $54 | |||
| 5 | $73 | 14.6 | $58 |
Required:
- Complete cost and revenue table
2. Use the completed table in part (i) to determine the price and output selection for this monopoly.
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Quantitative Chemical Analysis
Authors: Daniel C. Harris
8th edition
1429218150, 978-1429218153
