3. Total and average revenue of a monopolist Aa Aa Suppose that Rajiv Malik is the only seller of kumquats in a small town. The following graph shows the demand and marginal revenue (MR) curves facing Rajiv. You can use the red rectangle labeled Total Revenue (cross symbols) to compute total revenue at various prices along the demand curve. To see the area of the Total Revenue rectangle, scroll over the shaded area with your mouse. You will not be graded on where you place the rectangle. PRICE (Dollars per basket) 10 Total Revenue MR Demand 0 4 8 12 16 20 24 28 32 36 40 QUANTITY (Thousands of basketsper yearl On the following graph, use the green points (triangle symbol) to plot annual total revenue at prices of $8, $7, $6, $5, $4, $3, and $2 per basket of kumquats. Be sure to use all of the points provided. Line seaments will
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