A monopoly has the following pricing and revenue structure. Calculating the Monopolist's Marginal Revenue (1) Quantity...

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A monopoly has the following pricing and revenue structure. Calculating the Monopolist's Marginal Revenue (1) Quantity of (2) (3) customers (Q) Price of service Total revenue (4) Marginal revenue per 1,000 customers (P) (TR) (MR) Formula: QP TR 0 $100 $0.00 $90,000 1,000 90 90,000 70,000 2,000 80 160,000 50,000 3,000 70 210,000 30,000 4,000 60 240,000 10,000 5,000 50 250,000 -10,000 6,000 40 240,000 -30,000 7,000 30 210,000 -50,000 8,000 20 160,000 9,000 -70,000 10 90,000 90,000 10,000 0 0.00 If the firm's marginal cost per customer is $30, and the firm wants to follow the profit-maximizing rule, what would be the firm's quantity of customers and price charged per customer? The quantity of customers is 3,000, and the price is $30. The quantity of customers is 4,000, and the price is $60. The quantity of customers is 3,000, and the price is $70. The quantity of customers is 4,000, and the price is $30. JN #3 E X1 F 45 Q Search T 6 PB 00 * 30 K A monopoly has the following pricing and revenue structure. Calculating the Monopolist's Marginal Revenue (1) Quantity of (2) (3) customers (Q) Price of service Total revenue (4) Marginal revenue per 1,000 customers (P) (TR) (MR) Formula: QP TR 0 $100 $0.00 $90,000 1,000 90 90,000 70,000 2,000 80 160,000 50,000 3,000 70 210,000 30,000 4,000 60 240,000 10,000 5,000 50 250,000 -10,000 6,000 40 240,000 -30,000 7,000 30 210,000 -50,000 8,000 20 160,000 9,000 -70,000 10 90,000 90,000 10,000 0 0.00 If the firm's marginal cost per customer is $30, and the firm wants to follow the profit-maximizing rule, what would be the firm's quantity of customers and price charged per customer? The quantity of customers is 3,000, and the price is $30. The quantity of customers is 4,000, and the price is $60. The quantity of customers is 3,000, and the price is $70. The quantity of customers is 4,000, and the price is $30. JN #3 E X1 F 45 Q Search T 6 PB 00 * 30 K

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Given Price and Quantity with TR and MR Objective Find Profitable output level for monopoly when ... View the full answer