Refer to the following table that gives the demand facing a monopolist: How much does the 28th unit of output add to total revenue?

Name: Refer to the following table that gives the demand facing a monopolist: How much does the 28th unit of output add to total revenue?
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Question

Refer to the following table that gives the demand facing a monopolist:  How much does the 28th unit of output add to total revenue?

Quizplus · Accepted Answer

The 28th unit of output will be sold at a price of $10, since the monopolist faces a downward-sloping demand curve. Therefore, the 28th unit of output will add $10 to total revenue.

Refer to the Following Table That Gives the Demand Facing