789948-dt-content-rid-768 M1 ECON2302010 s AR MRQ Quantity ifit wants to sell qu
ID: 1162977 • Letter: 7
Question
789948-dt-content-rid-768 M1 ECON2302010 s AR MRQ Quantity ifit wants to sell quantity Q1.«must charge.pnce: 6) Q)P1 D) not labeled on the graph. 7) A monopolist can sell 20 teys per day for $8 each. To sell 21 toys per day, the price must be cut to $7. The marginal revenue ofthe 21st toy is 7) A)-$13. 8)-$10. C) $7, D).$21 8) For a monopolist to sell an output level of 10 units, the price must be $8. MR at this output level will be 8) 9) The data below relate to a pure monopolist and the product it produces. Whet is the profit-maximizing output and price for this monopolist? 9)Explanation / Answer
6. Option C, It is the price where quantity touches AR curve
7. Option A.
Q
P
TR
MR
20
8
160
21
7
147
-13
8. Option D
9. Option D
P
Q
TC
TR
Profit
22
0
20
0
-20
20
1
24
20
-4
18
2
27
36
9
16
3
32
48
16
14
4
40
56
16
12
5
49
60
11
10
6
59
60
1
Q
P
TR
MR
20
8
160
21
7
147
-13
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