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Suppose the Table Below Describes the Demand for a Good

question 45

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Suppose the table below describes the demand for a good produced by monopolist.  Price  Quantity $101$92$83$74$65$56$47\begin{array} { | c | c | } \hline \text { Price } & \text { Quantity } \\\hline \$ 10 & 1 \\\hline \$ 9 & 2 \\\hline \$ 8 & 3 \\\hline \$ 7 & 4 \\\hline \$ 6 & 5 \\\hline \$ 5 & 6 \\\hline \$ 4 & 7 \\\hline\end{array} The monopolist's total revenue from selling 3 units is ______, and the monopolist's marginal revenue from selling the 3rd unit is ______.

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Definitions:

Service Delivery System

Service Delivery System refers to the framework and processes through which a company provides its services to customers, encompassing the service design, delivery channels, personnel, and technology.

Franchise Offering

A business arrangement where one party (the franchisor) grants another (the franchisee) the right to operate a business under its brand.

Demographic Profile

A statistical representation of the characteristics of a population, including age, sex, income, education, and occupation.

License Agreement

A legal contract granting permission to use intellectual property or technology, subject to specific conditions.

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