1) Suppose Nina is a monopolist who faces the following demand and cost schedule
ID: 1102983 • Letter: 1
Question
1) Suppose Nina is a monopolist who faces the following demand and cost schedules. How does the Price Nina charges compare to her MC?
2) Suppose Nina is a monopolist who faces the following demand and cost schedules. What price will Nina charge for her t-shirts?
3) Suppose Nina is a monopolist who faces the following demand and cost schedules. How many t-shirts will Nina sell?
4) Suppose Nina is a monopolist who faces the following demand and cost schedules. What is Marginal revenue for the quantity of shirts Nina sells?
5) Suppose Nina is a monopolist who faces the following demand and cost schedules. What is the marginal cost for the final shirt Nina produces for sale?
6) Suppose Nina is a monopolist who faces the following demand and cost schedules. How does Marginal Revenue and the Price compare for Nina for the quantity she chooses?
Nina's TR MR Total Marginal Customm Tees Cost Cost 0 0 $10 $30 $60 $100 $150 2 4Explanation / Answer
1. The price charged by Nina increases with increase in MC.
2. Nina will charge a price where MR = MC.
3.Nina will sell Q where MR = MC.
4. MR will be less than price and will be equal to the MC.
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