The figure below shows the demand for Joy's Jellies, a monopolist. a) Complete the table below and draw in the MR curve in the figure above. $\begin{array} { c c c c }
\hline \begin{array} { c }
\text { Quantity } \
\text { Demanded }
\end{array} & \text { AR } & \text { TR } & \text { MR } \
\hline 1 & & & \
2 & & & \
3 & & & \
4 & & & \
5 & & & \
6 & & & \
7 & & & \
8 & & & \
9 & & & \
10 & & & \
\hline
\end{array}$ b) At what output is total revenue maximized? What is marginal revenue at this output?
c) What is the maximum output the monopolist would produce?
d) What is the elasticity of demand for outputs greater than the quantity in c)?
e) What conclusion can you derive from these observations?

Question

The figure below shows the demand for Joy's Jellies, a monopolist.  a) Complete the table below and draw in the MR curve in the figure above. $\begin{array} { c c c c } 
\hline \begin{array} { c } 
\text { Quantity } \
\text { Demanded }
\end{array} & \text { AR } & \text { TR } & \text { MR } \
\hline 1 & & & \
2 & & & \
3 & & & \
4 & & & \
5 & & & \
6 & & & \
7 & & & \
8 & & & \
9 & & & \
10 & & & \
\hline
\end{array}$ b) At what output is total revenue maximized? What is marginal revenue at this output?
c) What is the maximum output the monopolist would produce?
d) What is the elasticity of demand for outputs greater than the quantity in c)?
e) What conclusion can you derive from these observations?

Quizplus · Accepted Answer

The Answer of The figure below shows the demand for Joy's Jellies, a monopolist.  a) Complete the table below and draw in the MR curve in the figure above. $\begin{array} { c c c c } 
\hline \begin{array} { c } 
\text { Quantity } \
\text { Demanded }
\end{array} & \text { AR } & \text { TR } & \text { MR } \
\hline 1 & & & \
2 & & & \
3 & & & \
4 & & & \
5 & & & \
6 & & & \
7 & & & \
8 & & & \
9 & & & \
10 & & & \
\hline
\end{array}$ b) At what output is total revenue maximized? What is marginal revenue at this output?
c) What is the maximum output the monopolist would produce?
d) What is the elasticity of demand for outputs greater than the quantity in c)?
e) What conclusion can you derive from these observations?

The Figure Below Shows the Demand for Joy's Jellies, a Monopolist