A. Complete the following table: Answer the marginal revenue.
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 $12, 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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Instructions: Enter your responses ro...
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