In order to sell two units rather than one the monopolist, Econometrics

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In order to sell two units rather than one the monopolist

Using the concepts of total revenue and marginal revenue, show why marginal revenue is less than price in a monopoly situation. Suppose a monopolist wants to expand output from one unit to two units. In order to sell two units rather than one, the monopolist must lower its price from $10 to $8-see the table below. Will the marginal revenue be less than the price?

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Econometrics: In order to sell two units rather than one the monopolist

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