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ECO - Draw Demand curve and the marginal revenue curve




Question;Assume the demand curve faced by a monopolist is given by the following table:price demand total revenue marginal revenue55 4560 4065 3570 3075 2580 2085 1590 1095 5100 0(a) Fill in the columns of the table for total revenue and marginal revenue.(b) Draw the demand curve and the marginal revenue curve.(c) If the firm?s marginal cost is $75, what is the equilibrium monopoly price? How much does a monopolist produce? (d) What would be the price and quantity produced if this were a competitive market (assume marginal costs to be $75)?


Paper#57561 | Written in 18-Jul-2015

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