Question: Suppose a pure monopolist is faced with the demand schedule shown below and the same cost data as the competitive producer discussed in question 4

Suppose a pure monopolist is faced with the demand schedule shown below and the same cost data as the competitive producer discussed in question 4 at the end of Chapter. Calculate the missing total-revenue and marginal-revenue amounts, and determine the profit-maximizing price and profit-earning output for this monopolist. What is the monopolist’s profit? Verify your answer graphically and by comparing total revenue and total cost.

Suppose a pure monopolist is faced with the demand schedule

Marginal Revenue Total Quantity Demanded Revenue Price $115 100 83 71 63 b5 48 42 37 29 10

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