A. Total Revenue (TR)

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 For Q = 0: TR = 17 × 0 = 0 For Q = 1: TR = 16 × 1 = 16 For Q = 2: TR = 15 × 2 = 30 For Q = 3: TR = 14 × 3 = 42 For Q = 4: TR = 13 × 4 = 52 For Q = 5: TR = 12 × 5 = 60 For Q = 6: TR = 11 × 6 = 66 For Q = 7: TR = 10 × 7 = 70 For Q = 8: TR = 9 × 8 = 72 For Q = 9: TR = 8 × 9 = 72 For Q = 10: TR = 7 × 10 = 70 The Total Revenue (TR) values are: 0, 16, 30, 42, 52, 60, 66, 70, 72, 72, 70 B. Marginal Revenue (MR) Marginal Revenue (MR) is the change in Total Revenue (TR) from producing one additional unit of output. MR = TR_n - TR_n-1 For Q = 0: - (Not applicable, as there's no previous output level) For Q = 1: MR = 16 - 0 = 16 For Q = 2: MR = 30 - 16 = 14 For Q = 3: MR = 42 - 30 = 12 For Q = 4: MR = 52 - 42 = 10 For Q = 5: MR = 60 - 52 = 8 For Q = 6: MR = 66 - 60 = 6 For Q = 7: MR = 70 - 66 = 4 For Q = 8: MR = 72 - 70 = 2 For Q = 9: MR = 72 - 72 = 0 For Q = 10: MR = 70 - 72 = -2 The Marginal Revenue (MR) values are: -, 16, 14, 12, 10, 8, 6, 4, 2, 0, -2 C. Marginal Cost (MC) Marginal Cost (MC) is the change in Total Cost (TC) from producing one additional unit of output. MC = TC_n - TC_n-1 For Q = 0: - (Not applicable, as there's no previous output level) For Q = 1: MC = 18 - 10 = 8 For Q = 2: MC = 23 - 18 = 5 For Q = 3: MC = 25 - 23 = 2 For Q = 4: MC = 27 - 25 = 2 For Q = 5: MC = 28 - 27 = 1 For Q = 6: MC = 32 - 28 = 4 For Q = 7: MC = 40 - 32 = 8 For Q = 8: MC = 50 - 40 = 10 For Q = 9: MC = 64 - 50 = 14 For Q = 10: MC = 80 - 64 = 16 The Marginal Cost (MC) values are: -, 8, 5, 2, 2, 1, 4, 8, 10, 14, 16 3 done, 2 left today. You're making progress.