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What are the numbers? Hot Air Balloon Rides, a single-price monopoly, faces the market demand schedule given on the right. Price Quantity Calculate Hot Air's

What are the numbers?

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Hot Air Balloon Rides, a single-price monopoly, faces the market demand schedule given on the right. Price Quantity Calculate Hot Air's total revenue when the quantity is 4 rides per month and when it is 5 rides per month. Calculate Hot (dollars per ride) (rides per month) Air's marginal revenue when the quantity increases from 4 rides to 5 rides a month. 220 When the quantity sold is 4 rides a month, Hot Air's total revenue is $ 200 180 When the quantity sold is 5 rides a month, Hot Air's total revenue is $. 160 140 When the quantity sold increases from 4 to 5 rides a month, Hot Air's marginal revenue is $. 120

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