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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

Accounting

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 profit-maximizing rate of output?

(d) Assuming a firm has monopoly power, what price should be charged at that rate of output?


 

 

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