0965/ /&snapshotid=380446 ALEKS - Nicholas W. A ALEKS- Nicholas W. ALEKS- ONLLINE Q. ry C4ELink Log in to t. CENGAGE MINDTAP Homework (Ch 15) 2. Calculating marginal revenue from a linear demand curve The blue curve on the following graph represents the demand curve facing a firm that can set its own prices. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool (?) 150 Market for Goods 135 Quantity 25 Demanded 120 (Units) 105 Demand Price 75.00 (Dollars per unit) 90 75 PRICE (Dollars per unit) Demand 15 OFMODO hpHomework (Ch 15) Graph Input Tool (?) 150 Market for Goods 135 IQuantity Demanded 25 120 (Units) 105 Demand Price 75.00 (Dollars per unit) PRICE (Dollars per unit) 8 0 8 Demand 30 15 0 S 10 15 20 25 30 35 40 45 50 QUANTITY (Units) ORMODO hpHomework (Ch 15) On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 10, 20, 25, 30, 40, and 50 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. 1880 1692 Total Revenue 1504 1316 1128 TOTAL REVENUE (Dollars) 940 752 564 37 188 50 MO hptomework (Ch 15) On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 10, 20, 25, 30, 40, and 50 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. 1880 1692 Total Revenue 1504 1316 1128 TOTAL REVENUE (Dollars) 940 504 370 ODMODOnework (Ch 15) 10 15 20 25 30 35 40 45 50 QUANTITY (Number of units) Calculate the total revenue if the firm produces 10 versus 9 units. Then, calculate the marginal revenue of the 10th unit produced. The marginal revenue of the 10th unit produced is |$ Calculate the total revenue if the firm produces 20 versus 19 units. Then, calculate the marginal revenue of the 20th unit produced. The marginal revenue of the 20th unit produced is | $ Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (plus symbol) to plot the firm's marginal revenue curve on the following graph. 150 + 135 O MODO 4 hp096577&snapshotld=3804460&id=199009919.. D 10 : KS - Nicholas W.. A ALEKS - Nicholas W. ALEKS - ONLINE Q.. ^ C4ELink: Log in to t. All Bookmarks CENGAGE | MINDTAP Q Search this course ? Homework (Ch 15) X Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (plus symbol) to plot the firm's marginal revenue curve on the following graph. (?) A-Z 150 LA 135 120 Marginal Revenue 105 bongo MARGINAL REVENUE (Dollars) A+ 2 30 30 35 40 45 50 Apr 12 1:39 0 5 10 15 20 QUANTITY (Units) O hp backspace C Fa0l 15 200 25 30 35, a0 45 S50 QUANTITY (Units) paring your total revenue graph to your marginal revenue graph, you can see that total revenue is at the output at Continue without