Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

6 Chrome File Edit View History Bookmarks Profiles Tab Window Help a 9 (9 L [Jr 9 Q >8 8 o MonApr4 9:17PM Question 3

image text in transcribed
image text in transcribed
6 Chrome File Edit View History Bookmarks Profiles Tab Window Help a 9 (9 L [Jr "9 Q >8 8 o MonApr4 9:17PM Question 3 7 POSl eztormheducationcom Post Class Quiz #4: Chapters 6 & 7 0 Saved Help Save 8. Exit Submit True North Railways, which is the sole provider of passenger rail service to a remote community, has revenues and costs shown in the table below. (5) (1) (2) Marginal (6) Price Quantity (3) (4) Revenue Marginal Colt: (S per (pas-anger] per Total. Revenue Total. Colt ($ per ($ per pas-anger) day) (5) ($) passenger) pal-anger) 360 o | | 15, 000 300 so | | 16, 200 240 100 | | 17, 500 180 150 | | 18, 900 120 200 | | 20, 400 so 250 | | 22, one o 300 | | 23, 300 g a. Fill in the above table. Enter all dollar values in the table and answers below with no cents - ie \"10" not "1000' Remember to include a minus sign () in front of any negative values entered b. True North's (Click to select) v quantity (using the quantities shown in the table above) is passengers and the price it charges is $ . c. At this quantity, True North is making a short-run of$ (Click to select) v ME: "- Di!" 5"\" '3 i n @"'ZITAO

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics For Environmental Studies A Strategic Guide To Micro-And Macroeconomics

Authors: Alfred Endres, Volker Radke

2012th Edition

364231192X, 978-3642311925

More Books

Students also viewed these Economics questions

Question

should a company have religious anitharassment policies

Answered: 1 week ago