Table : TABLE 8-1 Demand, Total Revenue, and Marginal Revenue for the De Beers Monopoly
Price of
diamond
P
Quantity of
diamonds
Q
Total
revenue
TR = P × Q
Marginal
revenue
MR = ΔTRQ
$1,000 0 $0
$950
950 1 950
850
900 2 1,800
750
850 3 2,550
650
800 4 3,200
550
750 5 3,750
450
700 6 4,200
350
650 7 4,550
250
600 8 4,800
150
550 9 4,950
50
500 10 5,000
−50
450 11 4,950
−150
400 12 4,800
−250
350 13 4,550
−350
300 14 4,200
−450
250 15 3,750
−550
200 16 3,200
−650
150 17 2,550
−750
100 18 1,800
−850
50 19 950
−950
0 20 0