Suppose if the table shows the demand faced by a monopoly

Reference no: EM1328232

Question about elasticity and marginal revenue

Here is some data on teh demand for marshmallows

price quantity
$10 1100
8 1300
6 1700
4 2300
2 3100

is demand elastic or inelastic in the $ 6 - 8 price range? how do you k now?

if the table represents the demand faced by a monopoly firm then what is that firms marginal revenues as it increases output from 1700 units to 2300 units.

Reference no: EM1328232

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