The figure below shows the demand schedule and demand curve for a product produced by a single- price monopolist. $\begin{array}{ll}&\text { Quantity }\
\text { Price (\$) }&\text { Demanded }\
8 & 5 \
7 & 6 \
6 & 7 \
5 & 8 \
4 & 9 \
3 & 10 \
2 & 11
\end{array}$
FIGURE 10- 1
-Refer to Figure 10- 1. Suppose this single- price monopolist is initially selling 9 units at $4 each and then reduces the price of the product to $3. By making this change, the firm is giving up revenue of
And gaining revenue of _. Its marginal revenue is therefore . (All figures are dollars)

Question

The figure below shows the demand schedule and demand curve for a product produced by a single- price monopolist. $\begin{array}{ll}&\text { Quantity }\
\text { Price (\$) }&\text { Demanded }\
8 & 5 \
7 & 6 \
6 & 7 \
5 & 8 \
4 & 9 \
3 & 10 \
2 & 11
\end{array}$
 FIGURE 10- 1
-Refer to Figure 10- 1. Suppose this single- price monopolist is initially selling 9 units at $4 each and then reduces the price of the product to $3. By making this change, the firm is giving up revenue of
And gaining revenue of _. Its marginal revenue is therefore . (All figures are dollars)

Quizplus · Accepted Answer

The Answer of The figure below shows the demand schedule and demand curve for a product produced by a single- price monopolist. $\begin{array}{ll}&\text { Quantity }\
\text { Price (\$) }&\text { Demanded }\
8 & 5 \
7 & 6 \
6 & 7 \
5 & 8 \
4 & 9 \
3 & 10 \
2 & 11
\end{array}$
 FIGURE 10- 1
-Refer to Figure 10- 1. Suppose this single- price monopolist is initially selling 9 units at $4 each and then reduces the price of the product to $3. By making this change, the firm is giving up revenue of
And gaining revenue of _. Its marginal revenue is therefore . (All figures are dollars)

The Figure Below Shows the Demand Schedule and Demand Curve