Essentials of Economics 2nd Edition by Campbell McConnell, Randy Grant, Stanley Brue

تمرين 2

Use the following demand schedule to determine total revenue and marginal revenue for each possible level of sales: LO2

a. What can you conclude about the structure of the industry in which this firm is operating Explain.
b. Graph the demand, total-revenue, and marginal-revenue curves for this firm.
c. Why do the demand, marginal-revenue, and average-revenue curves coincide
d. "Marginal revenue is the change in total revenue associated with additional units of output." Explain verbally and graphically, using the data in the table.