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A. Total Revenue (TR)

Business/Management

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Here's how to complete the table for the monopolist firm:

A. Total Revenue (TR)
Total Revenue (TR) is calculated as Price (P) multiplied by Output (Q).

TR=P×Q\text{TR} = \text{P} \times \text{Q}
  • For Q = 0: TR=17×0=0TR = 17 \times 0 = 0
  • For Q = 1: TR=16×1=16TR = 16 \times 1 = 16
  • For Q = 2: TR=15×2=30TR = 15 \times 2 = 30
  • For Q = 3: TR=14×3=42TR = 14 \times 3 = 42
  • For Q = 4: TR=13×4=52TR = 13 \times 4 = 52
  • For Q = 5: TR=12×5=60TR = 12 \times 5 = 60
  • For Q = 6: TR=11×6=66TR = 11 \times 6 = 66
  • For Q = 7: TR=10×7=70TR = 10 \times 7 = 70
  • For Q = 8: TR=9×8=72TR = 9 \times 8 = 72
  • For Q = 9: TR=8×9=72TR = 8 \times 9 = 72
  • For Q = 10: TR=7×10=70TR = 7 \times 10 = 70

The Total Revenue (TR) values are:
0, 16, 30, 42, 52, 60, 66, 70, 72, 72, 70\boxed{\text{0, 16, 30, 42, 52, 60, 66, 70, 72, 72, 70}}

B. Marginal Revenue (MR)
Marginal Revenue (MR) is the change in Total Revenue (Δ\DeltaTR) from producing one additional unit of output.

MR=TRn−TRn−1\text{MR} = \text{TR}_n - \text{TR}_{n-1}
  • For Q = 0: - (Not applicable, as there's no previous output level)
  • For Q = 1: MR=16−0=16MR = 16 - 0 = 16
  • For Q = 2: MR=30−16=14MR = 30 - 16 = 14
  • For Q = 3: MR=42−30=12MR = 42 - 30 = 12
  • For Q = 4: MR=52−42=10MR = 52 - 42 = 10
  • For Q = 5: MR=60−52=8MR = 60 - 52 = 8
  • For Q = 6: MR=66−60=6MR = 66 - 60 = 6
  • For Q = 7: MR=70−66=4MR = 70 - 66 = 4
  • For Q = 8: MR=72−70=2MR = 72 - 70 = 2
  • For Q = 9: MR=72−72=0MR = 72 - 72 = 0
  • For Q = 10: MR=70−72=−2MR = 70 - 72 = -2

The Marginal Revenue (MR) values are:
-, 16, 14, 12, 10, 8, 6, 4, 2, 0, -2\boxed{\text{-, 16, 14, 12, 10, 8, 6, 4, 2, 0, -2}}

C. Marginal Cost (MC)
Marginal Cost (MC) is the change in Total Cost (Δ\DeltaTC) from producing one additional unit of output.

MC=TCn−TCn−1\text{MC} = \text{TC}_n - \text{TC}_{n-1}
  • For Q = 0: - (Not applicable, as there's no previous output level)
  • For Q = 1: MC=18−10=8MC = 18 - 10 = 8
  • For Q = 2: MC=23−18=5MC = 23 - 18 = 5
  • For Q = 3: MC=25−23=2MC = 25 - 23 = 2
  • For Q = 4: MC=27−25=2MC = 27 - 25 = 2
  • For Q = 5: MC=28−27=1MC = 28 - 27 = 1
  • For Q = 6: MC=32−28=4MC = 32 - 28 = 4
  • For Q = 7: MC=40−32=8MC = 40 - 32 = 8
  • For Q = 8: MC=50−40=10MC = 50 - 40 = 10
  • For Q = 9: MC=64−50=14MC = 64 - 50 = 14
  • For Q = 10: MC=80−64=16MC = 80 - 64 = 16

The Marginal Cost (MC) values are:
-, 8, 5, 2, 2, 1, 4, 8, 10, 14, 16\boxed{\text{-, 8, 5, 2, 2, 1, 4, 8, 10, 14, 16}}

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