Find the total revenue of the monopolist when it sells 6, Ask an Expert

Economics

Using a spreadsheet like the following, entering formulas for the total revenue and consumer's surplus, and give the following demand curve of a consumer for a monopolist's product

Q= 14-2P

a) Find the total revenue of the monopolist when it sells 6 units of the commodity without practicing any form of price discrimination. What is the value of the consumers' surplus?

b) What would be the total revenue of the monopolist if it practiced first-degree price discrimination?

c) What if the monopolist charged P=$5.50 for the first 3 units of the commodity and P=$4 for the next 3 units-What type of price discrimination is this?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9445182

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