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Author Question: The table below shows the demand schedule for a product produced by a single-price ... (Read 43 times)

Gabby

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Question 1

Suppose a single-price monopolist knows the following information:

PriceQuantityTRMRFixed CostTCATCMC
$10.001500$7.00$6000$5.00$5.00

The monopolist could maximize profits by
◦ staying at the current price and output.
◦ lowering price and leaving output unchanged.
◦ producing zero output.
◦ lowering price and increasing output.
◦ raising price and leaving output unchanged.

Question 2

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 6 to 7 units is
◦ -4.
◦ -2.
◦ 0.
◦ 2.
◦ 4.


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Marked as best answer by Gabby on Oct 12, 2022

sakura282000

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Gabby

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Reply 2 on: Oct 12, 2022
Gracias!


parker125

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Reply 3 on: Yesterday
:D TYSM

 

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