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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

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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 Market for Goods I Quantity 25 Demanded (Units) Demand Price 75.00 (Dollars per unit) PRICE (Dollars per unit) Demand 10 15 20 25 30 35 40 45 50 QUANTITY (Units) 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 A 1692 1504 Total Revenue 1316 1128 TOTAL REVENUE (D ollars) 940 564 376 168 16 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 $

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