Question

Demand Data		Cost Data
Price	Quantity Demanded	Output	Total Cost
5.5	3	3	5
5	4	4	6
4.5	5	5	6.5
3.85	6	6	7.5
3.35	7	7	9
2.90	8	8	11
2.5	9	9	14

From the monopoly data given above, compute the following for each level of output.

1) total revenue.

2) marginal revenue.

3) average costs

4) marginal cost.

5) the profit maximizing profit level of output. the q that maximizes profit.

6) the profit maximizing price.

7) the total level of profits at the profit maximizing output level.