Am I calculating the Marginal Revenue when you get the quantity for the price of $6,000.00? I get zero?

Is this right?

Quantity=Q
Price=P
Total Revenue-TR
Fixed Cost=FC
Margin Cost-MC
Marginal Renenue=MR

___P_____Q______TR________MC____MR
$8,000|5,000|40,000,000|$1,000|$8,000
$7,000|6,000|42,000,000|$1,000|$2,000
$6,000|7,000|42,000,000|$1,000|0
$5,000|8,000|40,000,000|$1,000|$2,000

1 answer

I believe you are mostly right. I don't see where the first MR value of $8000 comes from. (the first MR value should be undeterminable.) The change (MR) in TR from going from 5000Q to 6000Q is 2000, (correct in your table). The MR going from 6000Q to 7000Q is 0 (also correct in your table). The MR going from 7000 to 8000 is -2000 (wrong sign in your MR column).
Similar Questions
  1. Just needing to know if I have done the work correctly with this problem:For the total revenue and marginal revenue the answers
    1. answers icon 1 answer
  2. Just needing to know if I have done the work correctly with this problem:For the total revenue and marginal revenue the answers
    1. answers icon 1 answer
  3. The monopolist sets price byPart 2 A. charging the price where marginal revenue equals price. B. charging the price where
    1. answers icon 1 answer
  4. The monopolist sets price byPart 2 A. producing the quantity where marginal cost equals marginal revenue and charging the price
    1. answers icon 1 answer
more similar questions