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kaitlynndavis

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Question 1

The table below shows the demand schedule for a product produced by a single-price monopolist.

PriceQuantity
Demanded
$8 5
$7 6
$6 7
$5 8
$4 9
$310
$211

TABLE 10-1

Refer to Table 10-1. For a single-price monopolist, the marginal revenue associated with increasing sales from 5 to 6 units is
◦ -4.
◦ -2.
◦ 0.
◦ 2.
◦ 4.

Question 2

Your food-services company has been named as the monopoly provider of meals at a small university. The cost and demand schedules are:

Sold per DayPrice per Meal
$
Total Cost
$
Total Revenue
$
   06.00  500      0
1005.50  550  550
2005.00  6001000
3004.50  6751350
4004.00  8001600
5003.50  9501750
6003.0012001800
7002.5016001750

TABLE 10-2

Refer to Table 10-2. What is the marginal cost of an additional meal when output is between 100 and 200 meals per day?
◦ $1.25
◦ $0.50
◦ $1.00
◦ $1.50
◦ $0


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Marked as best answer by kaitlynndavis on Oct 12, 2022

wangyichun

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kaitlynndavis

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Reply 2 on: Oct 12, 2022
Wow, this really help


bblaney

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Reply 3 on: Yesterday
Excellent

 

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