monopoly problem

Step

Instructions

Points Possible

1

Start Excel. Download and open the workbook named: Chapter_6_Monopoly_Problem_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.

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3

In cell G10, by using cell references, calculate the marginal revenue. Use cells C9, F9, C10, and F10. Copy the formula from cell G10 down the column to cell G23.

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4

In cell H10, by using cell references, calculate the marginal cost. Use cells C9, E9, C10, and E10. Copy the formula from cell H10 down the column to cell H23.

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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.

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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 E9-F23.

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8

Save the workbook. Close the workbook and then exit Excel. Submit the workbook as directed.

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Total Points

6