1. Use the demand schedule below to determine total revenue and marginal revenue for each possible level of sales:

Product Price	Quantity Demanded	Total Revenue	Marginal Revenue
$2	0		-
$2	1
$2	2
$2	3
$2	4
$2	5

Flag question: Question 2Question 21 pts

2a. What can you conclude about the structure of the industry in which this firm is operating?

Group of answer choices

It is a monopoly market

It is a perfectly competitive market

It is a monopolistic competition market

It is an oligopoly market

Flag question: Question 3Question 31 pts

2b. Why do the demand and marginal-revenue curves coincide?

Group of answer choices

Because MC

Because the sellers marginally demand that much.

TR is greater than TC for each unit.

The firm can sell as many units as it wants. When you sell the next unit for $2, your TR increases by $2.