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beigefish857Lv1
6 Oct 2020
Use the following demand schedule for a monopolist to calculate total revenue and marginal revenue. For each price, indicate whether demand is elastic, unit elastic, or inelastic.
price (P)($)
Quantity demanded (Q)
Total Revenue
Marginal Revenue
Price Elasticity of demand (Ed)
5.00
0
4.50
1
4.00
2
3.50
3
3.00
4
2.50
5
2.00
6
1.50
7
1.00
8
0.50
9
0.00
10
Use the following demand schedule for a monopolist to calculate total revenue and marginal revenue. For each price, indicate whether demand is elastic, unit elastic, or inelastic.
price (P)($) | Quantity demanded (Q) | Total Revenue | Marginal Revenue | Price Elasticity of demand (Ed) |
5.00 | 0 | |||
4.50 | 1 | |||
4.00 | 2 | |||
3.50 | 3 | |||
3.00 | 4 | |||
2.50 | 5 | |||
2.00 | 6 | |||
1.50 | 7 | |||
1.00 | 8 | |||
0.50 | 9 | |||
0.00 | 10 |
Vaishnavi KanukurtiLv10
3 Nov 2020