What is that firms marginal revenue as it increases output

Reference no: EM13190489

some data on the demand for marshmallows:

Price Quantity
$10 100
$ 8 300
$ 6 700
$ 4 1300
$ 2 2200

(a.) Is demand elastic or inelastic in the $4-$6 price range? How do you know?

(b.) If the table represents the demand faced by a monopoly firm, then what is that firm's marginal revenue as it increases output from 100 units to 300 units?

Reference no: EM13190489

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