The following table shows demand and marginal cost for a monopolist. Calculate marginal revenue (MR) at each quantity. (Enter your response as an integer) Output (units) (Q) Price per Unit (P) 20 Marginal Revenue (MR) Marginal Cost (MC) 18 2 16 4 3 14 12 5 10 10

The following table shows demand and marginal cost for a monopolist. Calculate marginal revenue (MR) at each quantity. (Enter your response as an integer) Output (units) (Q) Price per Unit (P) 20 Marginal Revenue (MR) Marginal Cost (MC) 18 2 16 4 3 14 12 5 10 10

Microeconomics A Contemporary Intro

10th Edition

ISBN:9781285635101

Author:MCEACHERN

Publisher:MCEACHERN

Chapter9: Monopoly

Section: Chapter Questions

Problem 8QFR

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Total revenue = Price x Quantity

Marginal revenue = $\frac{c h a n g e i n t o t a l r e v e n u e}{c h a n g e i n t o t a l o u t p u t q u a n t i t y}$

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