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Use Table 11.4 to answer the following questions. 37. If the transit system were allowed to operate as an unregulated monopoly, what output would it
Use Table 11.4 to answer the following questions. 37. If the transit system were allowed to operate as an unregulated monopoly, what output would it supply and what price would it charge? Demand: Quantity 2 3 4 5 6 7 8 9 10 Price 10 9 8 7 6 5 4 3 2 Marginal 10 8 6 4 2 0 -2 -4 -6 -8 Revenue Marginal Costs: 9 6 5 3 2 3 4 5 7 10 Cost Average 9 7.5 6.7 5.8 5 4.7 4.6 4.6 4.9 5.4 Cost 1/1 htthe' Table 11.4
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