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Homework answers / question archive / a) Complete the following table: Instructions: Enter your responses rounded to the nearest whole number
a) Complete the following table:
Instructions: Enter your responses rounded to the nearest whole number. Indicate a negative response with a () negative sign.
Price 
$24 
$21 
$18 
$15 
$12 
$9 
$6 
$3 
Quantity demanded 
1 
2 
3 
4 
5 
6 
7 
8 
Marginal revenue 








(b) At what rate of output does marginal revenue turn negative?
(c) If marginal cost is constant at $18, what is the profitmaximizing rate of output?
(d) Assuming a firm has monopoly power, what price should be charged at that rate of output?
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