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The table below shows the demand and total revenue for a monopolist. Demand and Revenues Price Quantity Total Revenue Marginal Revenue (dollars) Demanded (dollars)
The table below shows the demand and total revenue for a monopolist. Demand and Revenues Price Quantity Total Revenue Marginal Revenue (dollars) Demanded (dollars) (dollars) $20 4 $80 17 5 85 $5 14 6 84 -1 11 7 77 8 8 64 -13 52 9 45 -19 10 20 -25 Instructions: If entering a negative number include a minus sign. What is the marginal revenue (MR) of the 7th unit of output?
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Microeconomics Principles, Problems and Policies
Authors: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn
20th edition
978-0077660819, 77660811, 978-1259450242
