The Table Below Gives a Monopoly's Demand Schedule

question 26

Essay

The table below gives a monopoly's demand schedule.Complete the table by calculating the total revenue and the marginal revenue.
$$\begin{array} { c c c c } \begin{array} { c } \text { Price } \\\text { (dollars) }\end{array} & \begin{array} { c } \text { Quantity } \\\text { (units) }\end{array} & \begin{array} { c } \text { Total revenue } \\\text { (dollars) }\end{array} & \begin{array} { c } \text { Marginal revenue } \\\text { (dollars) }\end{array} \\\hline 6 & 1 & - & - \\5 & 2 & - & - \\4 & 3 & - & - \\3 & 4 & - & - \\2 & 5 & - & - \\1 & 6 & - & - \\\hline\end{array}$$

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Definitions:

Economic Motivation

The driving forces behind economic activities, including incentives and desires that influence the economic decisions of individuals or organizations.

John Rawls

A philosopher known for his theory of justice as fairness, which argues for a system of distributing social and economic goods in a manner that benefits the least advantaged members of society.

Moral Equality

The principle that all individuals are equal in moral worth and should be treated as such.

Equality Of Opportunity

The principle that all individuals should have the same chances to pursue their goals without unfair barriers.