Table 15-1 Quantity Price $35 Q = 4 Q = 5 Q=6 Q=7 11 2 17 8 9 $29 $23 $17 Total Revenue Average Revenue $35 $64 $120 $99 $32 $11 Marginal Revenue $29 $17 $11 -$1 -$7 -$13 Refer to Table 15-1. Assume this monopolist's marginal cost is constant at $17. What is the profit-maximizing quantity (Q) of output?

Table 15-1 Quantity Price $35 Q = 4 Q = 5 Q=6 Q=7 11 2 17 8 9 $29 $23 $17 Total Revenue Average Revenue $35 $64 $120 $99 $32 $11 Marginal Revenue $29 $17 $11 -$1 -$7 -$13 Refer to Table 15-1. Assume this monopolist's marginal cost is constant at $17. What is the profit-maximizing quantity (Q) of output?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter25: Monopoly

Section: Chapter Questions

Problem 14E

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What is the usual shape of a total revenue curve for a monopolist? Why?
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Help me please
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