Information of left- Fill in the table, showing your work. On the back, graph de
ID: 1166707 • Letter: I
Question
Information of left- Fill in the table, showing your work. On the back, graph demand, marginal revenue, average total cost, and marginal cost. For MC and MR, place each point between the Q's horizontally. Next, indicate the profit maximizing monopoly price and quantity. Shade the graph for TR, TC, and Profits.
Explain why a lower or a higher quantity would lead to a loss of profit.
How is this MR curve different from the MR curve for a firm in a perfectly competitive market. Explain your answers
NAME online short answer quiz Monopoly and Marginal Revenue ch15 the table, showing ork. On the back, demand, marginal e, average total nd marginal cost. C and MR, place each etween the Q's ntally. Next indicate ofit maximizing this is where this is where undefined MR fromQ--1 to 0 would go undefined MC from Q-1 to 0 would go.. price and ty. Shade the graph TC, and Profits. in why a lower or a quantity would lead ss of profits. is this MR curve poly $102 $108 $118 $132 $150 $172 1 $10 $8 ent from the MR for a firm ina ctly competitive et? Explain!!! S6Explanation / Answer
Q P $ TR $ (P*Q) AR $ (TR/Q) MR $ TC $ ATC $ (TC/Q) MC $ PROFIT $ (TR-TC) 0 12 0 0 - 100 - 0 10 2 1 10 10 10 102 102.00 -92 6 6 2 8 16 8 108 54.00 -92 2 10 3 6 18 6 118 39.33 -100 -2 14 4 4 16 4 132 33.00 -116 -6 18 5 2 10 2 150 30.00 -140 -10 22 6 0 0 0 172 28.67 MR= Change in revenue due to production of one more unit. MC= Change in costs due to production of one more unit. MR=MC=$6 when ouput is 2 units.