Complete the total and marginal revenue columns

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Reference no: EM131485359

Question: Consider the following Quantity, Price, and Total Cost schedule for a single price monopolist

Price per unit	Quantity	Total Revenue	Marginal Revenue	Total Cost	Marginal Cost	Average Total Cost
10	0	0	0	100	0	0
8	100	800	800	300	2	3
6	200	1200	400	700	4	3.5
4	300	1200	0	1300	6	4.5
2	400	800	-400	2100	8	5.5
0	500	0	-800	3100	10	6.5

1. Complete the Total and Marginal Revenue columns. - Done

2. What quantity maximizes total revenue? 300

3. Complete the rest of the table. - Done

4. For a single price monopolist, what is the profit maximizing output?

5. For a single price monopolist, what is the profit maximizing price per unit?

6. At the single price monopolist's profit maximizing output and price, what is the profit per unit?

7. At the single price monopolist's profit maximizing output and price, what is the total profit?

8. Show the monopolist graphically; assume standard "U" shaped cost curves instead of the specific costs from the table.

9. At what price is the price elasticity of demand equal to one? (You do not need to actually calculate elasticity)

Reference no: EM131485359

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