Assume the demand curve faced by a monopolist is given by the following table:
price demand total revenue marginal revenue
55 45
60 40
65 35
70 30
75 25
80 20
85 15
90 10
95 5
100 0
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Write My Essay For Me(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)?
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