A publisher faces the following demand schedule for the next novel from one of its popular authors: Price Quantity Demanded (Dollars) (Copies) 40 0 36 50,000 32 100,000 28 150,000 24 200,000 20 250,000 16 300,000 12 350,000 8 400,000 4 450,000 0 500,000 The author is paid $800,000 to write the novel, and the marginal cost of publishing the novel is a constant $4 per copy. Complete the second, fourth, and fth columns of the following table by computing total revenue, total cost, and prot at each quantity. Quantity Total Revenue Marginal Revenue Total Cost Prot (Copies) (Dollars) (Dollars) (Dollars) (Dollars) o l:] UHHHHHHHHH Which of the following quantityprice combinations would a prot-maximizing publisher choose? (Note: If the publisher is indifferent between more than one choice, select all of the indifferent combinations.) Check all that apply. 150,000 copies at a price of $28 | ] 200,000 copies at a price of $24 [ | 250,000 copies at a price of $20 : 300,000 copies at a price of $16 ATR Complete the third column of the previous table by computing marginal revenue. (Hint: Recall that MR = E .) True or False: At each quantity, marginal revenue is less than the price. 0 True 0 False Use the black points (plus symbol) to graph the marginal revenue from the 50,000th, 100,000th, 150,000th, 200,000th, 250,000th, and 300,000th copy of the novel. Remember to plot from left to right and to plot between integers. For example, if the marginal revenue of increasing production from 50,000 copies to 100,000 copies were 10, then you would plot a point at (75, 10). Next use the orange line (square symbol) to graph the marginal-cost curve faced by the publisher. Finally, use the blue points (circle symbol) to graph demand at the following quantities (in thousands): 0, 50, 100, 150, 200, 250, 300, 350, 400, 450, and 500. 40 36 32 Marginal Revenue 28 24 Marginal Cost 20 Price 16 12 Demand 8 Deadweight Loss 0 0 50 100 150 200 250 300 350 400 450 500 Quantity (Thousands of copies)