This table represents the revenues faced by a monopolist.
Using the information in the table shown,if you were to graph the first two columns,you would have graphed which curve?
A)Marginal revenue
B)Market supply
C)Market demand
D)Total productivity

Question

This table represents the revenues faced by a monopolist. 
Using the information in the table shown,if you were to graph the first two columns,you would have graphed which curve?
A)Marginal revenue 
B)Market supply 
C)Market demand 
D)Total productivity

Quizplus · Accepted Answer

The first two columns in the table represent the price and quantity demanded, which are used to plot the market demand curve. The monopolist can determine the optimal quantity to produce at a given price by looking at the intersection of the market demand curve and its marginal revenue curve, but the table does not provide enough information to plot the marginal revenue curve or any other curve besides market demand. Therefore, the correct answer is C.

This Table Represents the Revenues Faced by a Monopolist