Suppose that Noah and Naomi have a monopoly in the garden bench market. Their weekly demand is

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Suppose that Noah and Naomi have a monopoly in the garden bench market. Their weekly demand is D (P) = 500 - 4P. What is their marginal revenue when they sell 100 garden benches in a week? Graph their inverse demand and marginal revenue curves.

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Microeconomics

ISBN: 978-1118572276

5th edition

Authors: David Besanko, Ronald Braeutigam

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Question Posted: Mar 18, 2016 04:55 AM

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Suppose that Noah and Naomi have a monopoly in the garden bench market. Their weekly demand is

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Their marginal revenue is 75 Explanation A monopoly market is a market wi...View the full answer

Microeconomics

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