Monopoly Problem

Chapter 6 Monopoly Problem 3 (v2)

 

Project Description:

In this problem, you will determine the price, quantity demanded, and profit for the monopolized industry.

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Steps to Perform:

Step Instructions Points Possible
1 Start Excel. Download and open the workbook named: Chapter_6_Monopoly_Problem_3_Start. 0
2 In cell F9, by using cell references, calculate the total revenue. Use cells C9 and D9. Copy the formula from cell F9 down the column to cell F23. 1
3 In cell G10, by using cell references, calculate the marginal revenue. Use cells C9F9C10, and F10. Copy the formula from cell G10 down the column to cell G23. 1
4 In cell H10, by using cell references, calculate the marginal cost. Use cells C9E9C10, and E10. Copy the formula from cell H10 down the column to cell H23. 1
5 In cell D25, by using a cell reference, determine the price charged for entrance to the tourist attraction. Refer to an appropriate cell among D9-D23. 1
6 In cell D26, by using a cell reference, determine the demand corresponding to the price in cell D25. Refer to an appropriate cell among C9-C23. 1
7 In cell D28, by using cell references, calculate the profit corresponding to the price in cell D25 and the quantity demanded in cell D26. Use the appropriate cells among E9F23. 1
8 Save the workbook. Close the workbook and then exit Excel. Submit the workbook as directed. 0
Total Points 6

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