Exercise on Monopoly's Revenue
Virgin Oil Star is the only seller of virgin oil in the city.
The table below shows the market demand for virgin oil.
Question-1: Fill in the question marks spaces.
Question-2: What is the relation between P and AR? And between P and MR?
| Q | P | TR | AR | MR |
| 0 | $11 | ????? | n/a | ------ |
| 1 | $10 | ????? | ????? | ????? |
| 2 | $8.50 | ????? | ????? | ????? |
| 3 | $7 | ????? | ????? | ????? |
| 4 | $5.25 | ????? | ????? | ????? |
| 5 | $4 | ????? | ????? | ????? |
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Date of last modification: 2019