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