1. Refer to the following table with demand and cost schedule for a monopoly: Pr
ID: 1092440 • Letter: 1
Question
1.
Refer to the following table with demand and cost schedule for a monopoly:
Price ($)
Q
TC ($)
20
4
75
19
5
88
18
6
103
17
7
120
16
8
139
15
9
159
The marginal revenue (MR) for the 9th unit of output (Q) is
$10
$9
$8
$7
2. Refer to the following table with demand and cost schedule for a monopoly:
Price ($)
Q
TC ($)
20
4
75
19
5
88
18
6
103
17
7
120
16
8
139
15
9
159
For profit maximization, what price should the monopoly charge?
$19
$18
$17
$16
3. Suppose that Intel and AMD are the only sellers of computer CPU in the United States. They are deciding how much to charge for similar products. The two choices are
Price ($)
Q
TC ($)
20
4
75
19
5
88
18
6
103
17
7
120
16
8
139
15
9
159
Explanation / Answer
1) 7
2) 18
3) (Intel-High, AMD-High)
4) 1
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