Refer to the table below. What is the monopolist’s total revenue when it sells 500 units?...
Refer to the table below.
What is the monopolist’s total revenue when it sells 500 units?
| Price | Quantity |
| $600 | 400 |
| $550 | 500 |
| $475 | 700 |
| $400 | 900 |
| $375 | 1000 |
Select one:
a. $375,000
b. $332,500
c. $275,000
d. $360,000
Homework Answers
Total revenue=Price x Quantity
When quantity is 500 price is 550 so,
=500 x 550
= 275000
option(C)
Add Answer to:
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What is the monopolist’s total revenue when it sells 500
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The following shows the demands and marginal revenue in two
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marginal cost MC. As with the PPT slides, you can view the data
generating these lines; for reference,
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The following shows the demands and marginal revenue in two
markets (D1 and MR1, and D2 and MR2) for a price discriminating
firm along with total demand, DT, marginal revenue, MRT, and
marginal cost MC. As with the PPT slides, you can view the data
generating these lines; for reference,
D1=600–0.5Q
D2=800–0.5Q
MRT=700–0.5Q
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The graph shows two sets of demand (D1,D2D1,D2) and marginal
revenue (MR1,MR2MR1,MR2) curves for individual markets 1 and 2,
with quantity on the horizontal axis,...
do you know how??
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average revenue is $60, and its average total cost is $34.Refer to Scenario 15-3. At Q = 500, the firm's
profit is-$13,000.-$15,000.-$17,000.-$30,000.21.21. Refer to Figure 15-9. To maximize total
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