Microeconomics 18th Edition by Campbell McConnell, Stanley Brue, Sean Flynn

Exercise 5

Use the following demand schedule to determine total revenue and marginal revenues for each possible level of sales: a. What can you conclude about the structure of the industry in which this firm is operating Explain.
b. Graph the demand, total revenue, and marginal revenue curves for this firm.
c. Why do the demand and marginal revenue curves coincide
d. "Marginal revenue is the change in total revenue associated with additional units of output." Explain verbally and graphically, using the data in the table.
Totalrevenue, top to bottom: 0; $2; $4; $6; $8; $10. Marginal revenue, top to bottom: $2, throughout.