Question: Monopoly - Exercise 1 This exercise: 1. Provides practice in calculating total revenue and marginal revenue and 2. Shows the relationship between marginal revenue and

Monopoly - Exercise 1 This exercise: 1. Provides practice in calculating total revenue and marginal revenue and 2. Shows the relationship between marginal

Monopoly - Exercise 1 This exercise: 1. Provides practice in calculating total revenue and marginal revenue and 2. Shows the relationship between marginal revenue and demand. 1. Use the information given in Table 7.1 to calculate total revenue and marginal revenue.

revenue and demand. 1. Use the information given in Table 7.1 to

calculate total revenue and marginal revenue. Quantity Price Total Marginal Revenue Revenue

Quantity Price Total Marginal Revenue Revenue A $12 B 11 C 2 10 D 9 E 4 F G 6Figure 7.1. Demand and marginal revenue curves $12 11 10 9 4 0 4 6

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