Question
[ Tobacco King is a monopolist in the cigarette market in Nicotiana Republic, where the Australian dollar is used as the official currency. The firm
[Tobacco King is a monopolist in the cigarette market in Nicotiana Republic, where the Australian dollar is used as the official currency. The firm has a constant marginal cost of $2.00 per pack. The fixed cost of the firm is $50 million. The firms demand curve can be expressed as P = 8 - 0.04Q, where Q is the quantity demanded (in millions of packs) and P is the price per pack (in $).]
Question:[In a table, show Tobacco Kings demand schedule, total revenue, average revenue, and marginal revenue for prices $2, $4, $6, and $8. (Hint: demand schedule refers to prices and quantity demanded at those prices).
Request: Guys, this question has been answered a lot in Chegg, but I just want to know, how is this table drawn?
Thanks!!!
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