Question 1
Refer to the information provided in Table 13.1 below to answer the question(s) that follow.
Refer to Table 13.1. If a monopoly faces the demand schedule given in the table, what is its marginal revenue from the 4000th unit it sells?
◦ -$3
◦ $1.50
◦ $3
◦ $1200
Question 2
Refer to the information provided in Table 13.1 below to answer the question(s) that follow.
Refer to Table 13.1. If a monopoly faces the demand schedule given in the table, at what level of output is its marginal revenue maximized?
◦ 2400
◦ 2800
◦ 3200
◦ 3600