The graph below shows the demand and marginal cost curves for the monopolist Mr. Peanut. a. Draw the marginal revenue curve. Plot only the endpoints of the graph below. Costs and revenues 105 90 75 60 45 30 15 0 D MC 10 20 30 40 50 60 70 80 90 100110120 Tools / marginal revel C

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter9: Monopoly
Section: Chapter Questions
Problem 33P: Draw a monopolists demand curve, marginal revenue, and marginal cost curves. Identify the...
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And also the graph please, Thank you!

b. What are the values of the profit-maximizing output and price?
Output:
Price: $
c. What are the values of output, price and total revenue when the firm's total revenue is maximized?
Output:
Price: $
Total revenue: $
Transcribed Image Text:b. What are the values of the profit-maximizing output and price? Output: Price: $ c. What are the values of output, price and total revenue when the firm's total revenue is maximized? Output: Price: $ Total revenue: $
The graph below shows the demand and marginal cost curves for the monopolist Mr. Peanut.
a. Draw the marginal revenue curve. Plot only the endpoints of the graph below.
105
90
75
69
Costs and revenues
45
30
15
0
D
Quantity per period
MC
10 20 30 40 50 60 70 80 90 100110120
Tools
/
marginal revel
i
Transcribed Image Text:The graph below shows the demand and marginal cost curves for the monopolist Mr. Peanut. a. Draw the marginal revenue curve. Plot only the endpoints of the graph below. 105 90 75 69 Costs and revenues 45 30 15 0 D Quantity per period MC 10 20 30 40 50 60 70 80 90 100110120 Tools / marginal revel i
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