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Monopoly single-price: Marginal revenue & elasticity

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Demand curve and total revenue curve for a single-price monopoly

Demand curve and total revenue curve for a single-price monopoly

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Demand curve and total revenue curve for a single-price monopoly

5:26

About this lesson

Monopoly Single-Price: Marginal Revenue & Elasticity Overview:
Total Revenue & Demand Curve
  • Total Revenue: p × q
  • Deriving Total Revenue from Demand
  • Total Revenue curve
  • Quadratic function

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Video 1 of 20

Demand curve and total revenue curve for a single-price monopoly

5 min

Selected

Calculating and graphing the marginal revenue curve from total revenue

10 min

How marginal revenue relates to elasticity of demand in a monopoly

6 min

Building a total revenue table from a demand schedule

1 min

Graphing the total revenue curve from the data table

2 min

Building a total revenue table from price and quantity data

1 min

Graphing the total revenue curve from the data table

3 min

Calculating marginal revenue from a total revenue table

3 min

Graphing the marginal revenue curve from calculated values

3 min

Graphing a linear demand curve P = 6 - 2Q

2 min

Deriving and graphing the marginal revenue curve from demand

1 min

Graphing the marginal revenue curve from the demand equation

1 min

Graphing a linear demand curve from p = 10 - 5q

2 min

Deriving and graphing the marginal revenue curve from demand

1 min

Plotting the marginal revenue curve from calculated points

1 min

Elasticity, marginal revenue, and revenue changes from a price cut

1 min

Why a price cut decreases revenue in the inelastic range

1 min

Unit elastic demand and zero marginal revenue

1 min

Pricing strategy when demand is elastic

2 min

Pricing strategy when demand is inelastic

2 min