Fill in the total and marginal revenue columns in the chart

Reference no: EM131240710

Suppose hair dryers are produced by a monopolistic firm. The chart below shows the quantities of hair dryers that can be sold at various prices.

a. Fill in the total and marginal revenue columns in the chart shown above.

b. If marginal cost is equal to marginal revenue at MC=MR=$20, what is the profit maximizing level of production (assuming that the firm should produce at all)?

Reference no: EM131240710

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