Given that a monopoly's marginal revenue curve is strictly downward sloping, use math and a graph (such as Figure 11.3) to show why a monopoly's revenue curve reaches its maximum at a larger quantity than does its profit curve.

Figure 11.3 Maximizing Profit

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(a) Monopolized Market MC 24 AC AVC 18 A = 60 12 Demand MR 24 Q, Units per day (b) Profit, Revenue %24 C 144 Revenue, R 108 60 Profit, n 12 24 Q, Units per day "...... ...... O Jun ed s'd