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?

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?

Quizplus · Accepted Answer

The first two columns of the table represent the quantity demanded at different prices. This is a typical demand schedule, which shows the relationship between the price of a good and the quantity demanded at that price. Therefore, the graph of the first two columns would be a downward-sloping demand curve, and the correct answer is C) Market demand. The other options (A, B, and D) are related to different concepts and cannot be represented by the first two columns of the table.

This Table Represents the Revenues Faced by a Monopolist