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Use the demand schedule for this monopolist to calculate TR, MR & MC Explain why the marginal revenue curve for a monopolist is different from that of a competitive firm. What price/quantity will the monopolist produce? What is the profit/loss for the monopolist? What price/quantity will the competitive firm produce? What is the profit/loss for the competitive firm?

Use the demand schedule for this monopolist to calculate TR, MR & MC  (15 points)

$        Qd        TR        MR        TC        MC
5.        0
4.5        1                        3
4        2                        5
3.5        3                        6
3        4                        7.5
2.5        5                        9.5
2        6                        12.5
1.5        7                        16
1        8                        20
.5        9                        24.5

Explain why the marginal revenue curve for a monopolist is different from that of a competitive firm.
What price/quantity will the monopolist produce?
What is the profit/loss for the monopolist?
What price/quantity will the competitive firm produce?
What is the profit/loss for the competitive firm?

Firm Specific    Industry Wide

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