ECONOMICS 2302 Topic 10 Monopoly Assignment.

Topic 10 Monopoly Assignment 1 1.Which of the following suppliers is most likely to be a monopolist?A water company 2.Which of the following scenarios best represents the pricing behavior of a monopolist?Our Drugs Inc. produces where its marginal revenue is equal to its marginal costand prices on its downward-sloping demand curve, such that the market for itsproduct clears knowing it will not face competition due to patents it holds on itsproducts. 3.The table below shows the demand and total revenue for a monopolist. Fill in the"Marginal Revenue" column for the various prices and quantities.Instructions:Enter your answers as a whole number.Demand and RevenuesPriceQuantityTotalMarginal Revenue(dollars)DemandedRevenue(dollars)(dollars)$5030$1,500—49311,519$ 1948321,,,,,5849 4.The table below shows the demand and total revenue for a monopolist. Fill in the"Marginal Revenue" column for the various prices and quantities.Instructions:Enter your answers as a whole number. If you are entering any negativenumbers be sure to include a negative sign (-) in front of those numbers.Demand and RevenuesPriceQuantityTotal RevenueMarginal Revenue(dollars)Demanded(dollars)(dollars)$2500$0