The Table Below Gives a Monopoly's Demand Schedule

question 230

Essay

The table below gives a monopoly's demand schedule. Complete the table by calculating the total revenue and the marginal revenue.
$$\begin{array} { c c c c } \begin{array} { c } \text { Quantity } \\\text { (units) }\end{array} & \begin{array} { c } \text { Price } \\\text { (dollars) }\end{array} & \begin{array} { c } \text { Total revenue } \\\text { (dollars) }\end{array} & \begin{array} { c } \text { Marginal revenue } \\\text { (dollars) }\end{array} \\\hline 15 & 0 & - & - \\13 & 1 & - & - \\11 & 2 & - & - \\9 & 3 & - & - \\7 & 4 & - & - \\5 & 5 & - & - \\3 & 6 & - & - \\1 & 7 & - & - \\0 & 8 & - & - \\\hline\end{array}$$

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