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The data below relate to a monopolist and the product it produces.

1.The data below relate to a monopolist and the product it produces. calculate the marginal revenue and marginal cost for each quantity

you can copy the chart and paste in the answer box

Quantity   Price per Unit   Marginal revenue   Total cost   Marginal cost

0               $22                   UNDEFINED           $20            UNDEFINED

1               $20                                                   $24

2               $18                                                   $27

3               $15                                                   $32

4               $14                                                   $40

5               $12                                                   $49

6               $10                                                   $59

from the chart above, what is the profit maximizing price and quantity?

2.What role does the U.S. government play with respect to market competition? It policies anticompetitive behavior and prohibits contracts that restrict competition.

It preserves competition by regulating prices and intervening in the price and output decisions of businesses.

It preserves competition by maintaining abundant government-owned firms to ensure consumer friendly pricing.

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q p TR MR TC MC 0 22 0 ud 20 ud 1 20 20 20 24 4 2 18 36 8 27 3 3 15 45 3... View the full answer

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