Answer to Question #225271 in Microeconomics for sindly

Question

In Thailand, a firm named SunFly is planning to monopolize its streaming services. The table below displays SunFly's monthly streaming service pricing as well as the quantity demanded for each pricing. 

Price (฿):

1. ฿ 130
2. ฿ 120
3. ฿ 110
4. ฿ 100
5. ฿ 90
6. ฿ 80
7. ฿ 70
8. ฿ 60
9. ฿ 50

Quantity demanded:

1. 10,000
2. 20,000
3. 30,000
4. 40,000
5. 50,000
6. 60,000
7. 70,000
8. 80,000
9. 90,000

a.) Calculate 1.total revenue, 2.average total revenue, 3.marginal revenue, 4.total cost, 5.average total cost, and 6.profit using the information given. (The firm has made a ฿3 million investment in their streaming offerings. In addition, the firm has faced a marginal cost of ฿10 for each streaming service it offers. )

b.) Illustrate (draw) a graph for the marginal-revenue, marginal-cost, and demand curves based on your solution in (a). The marginal revenue and marginal-cost curves intersect at what price and quantity?

Answer 1

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