Question: Calculate marginal revenue using the table, graph the marginal cost, demand, and marginal revenue curves, and answer four questions about output in a monopolistic catfish

Calculate marginal revenue using the table, graph the marginal cost, demand, and marginal revenue curves, and answer four questions about output in a monopolistic catfish market. Instructions: If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Price Quantity Total (per unit) Demanded(units Marginal Marginal Cost Revenue Revenue per day) (per unit) $25 10 $250 24 11 264 6 23 12 276 8 22 13 286 10 21 14 294 12 20 15 300 14 19 16 304 16 18 17 306 18

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1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.

4. It is only at this point that you can give the problem your full attention in relation to the various ways you have framed the problem.