The demand curve for Fibonacci Family Pizza, which has the monopoly franchise on the campus of...

  

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The demand curve for Fibonacci Family Pizza, which has the monopoly franchise on the campus of the State University, is given by Quantity Demanded Price 20 18 16 14 12 10 Quantity 0 2 4 6 0 8 2 Complete the total revenue and marginal revenue columns. 2. The cost function for the family business is: 10 4 6 8 10 Total Cost 12 28 36 56 84 Total Revenue 116 0 100 Marginal Cost 32 Marginal Revenue Average Cost 14 9:35 10:50 11.00 3. How much output should the Fibonaccis produce? 4. What price should they charge? 5. What profit will they earn at that price and output?! 6. On a piece of graph paper or in MS EXCEL plot the demand curve data, the marginal revenue data and the MC curve data. Use the information in the graph and a bit of interpolation to compute an approximation of the deadweight loss attributable to Finonacci's market power. DWL= 14 28.02 The demand curve for Fibonacci Family Pizza, which has the monopoly franchise on the campus of the State University, is given by Quantity Demanded Price 20 18 16 14 12 10 Quantity 0 2 4 6 0 8 2 Complete the total revenue and marginal revenue columns. 2. The cost function for the family business is: 10 4 6 8 10 Total Cost 12 28 36 56 84 Total Revenue 116 0 100 Marginal Cost 32 Marginal Revenue Average Cost 14 9:35 10:50 11.00 3. How much output should the Fibonaccis produce? 4. What price should they charge? 5. What profit will they earn at that price and output?! 6. On a piece of graph paper or in MS EXCEL plot the demand curve data, the marginal revenue data and the MC curve data. Use the information in the graph and a bit of interpolation to compute an approximation of the deadweight loss attributable to Finonacci's market power. DWL= 14 28.02

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