Table 16-3Tommy’s Tie Company, a monopolist, has the followi…
Table 16-3Tommy’s Tie Company, a monopolist, has the following cost and revenue information. Assume that Tommy’s is able to engage in perfect price discrimination. Costs Quantity Total Marginal Produced Cost Cost (Units) (Dollars) (Dollars) Revenues Quantity Price Total Marginal Demanded Revenue Revenue (Units) (Dollars per unit) (Dollars) (Dollars) 0 100 – 0 170 1 140 1 160 2 184 2 150 3 230 3 140 4 280 4 130 5 335 5 120 6 395 6 110 7 475 7 100 8 575 8 95 Refer to Table 16-3. If the monopolist can engage in perfect price discrimination, what is the total revenue when 3 ties are sold?