COSTS REVENUES Quantity Total Cost Marginal Quantity Price Total Marginal Produced Cost Demanded Revenue Revenue $100 $170 1 $140 1 $160 2 $184 2 $150 3 $230 3 $140 4 $280 4 $130 5 $335 $120 $395 6. $110 7 $475 $100 8. $575 8 $95 6,

COSTS REVENUES Quantity Total Cost Marginal Quantity Price Total Marginal Produced Cost Demanded Revenue Revenue $100 $170 1 $140 1 $160 2 $184 2 $150 3 $230 3 $140 4 $280 4 $130 5 $335 $120 $395 6. $110 7 $475 $100 8. $575 8 $95 6,

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

Table 15-21
Tommy's Tie Company, a monopolist, has the following cost and revenue information. Assume that Tommy's is able to engage in perfect price discrimination.
COSTS
REVENUES
Quantity
Total Cost
Marginal
Quantity
Price
Total
Marginal
Produced
Cost
Demanded
Revenue
Revenue
$100
$170
1
$140
1
$160
$184
2
$150
$230
3
$140
4
$280
4
$130
$335
5
$120
6
$395
6
$110
7
$475
7
$100
$575
8.
$95

Refer to Table 15-21. If the monopolist can engage in perfect price discrimination, what is the average revenue when 7 ties are sold?
a. $90
O b. $100
O c. $110
O d. $130

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