| Question | a. Draw a graph of the market demand curve and Minnie’s marginal revenue curve. b. Why is Minnie’s marginal revenue less than the price? Minnie’s Mineral Springs, a single-price monopoly, faces the market demand schedule in the table. Price Quantity demanded (dollars per bottle) (bottles per hour) 10 …………………………………. 0 8 …………………………………. 1 6 …………………………………. 2 4 …………………………………. 3 2 …………………………………. 4 0 …………………………………. 5 |
|---|---|
| Subject | business economics |
