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Answer the following questions precisely. (i) Complete the following table to show the total revenue, profit, marginal revenue and marginal cost. Total Output Total Price

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Answer the following questions precisely.

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(i) Complete the following table to show the total revenue, profit, marginal revenue and marginal cost. Total Output Total Price Marginal Profit Marginal revenue COST revenue cost 0 10.00 9.95 11.00 2 9.80 11.51 3 9.54 12.41 4 9.17 14.00 5 8.66 16.46 6 8.00 19.91 7 7.14 24.44 8 6.00 30.12 9 4.36 37.00 10 0.00 45.13 (ii) Show how the marginal revenue of +$1.98 when the 7th unit is sold can be explained in terms of two effects.You have been given the following census counts for a population (covering all ages): Po04 = Number in population on 1 January 2004 = 20,000 Pzoos = Number in population on 1 January 2005 = 40,000 Poor = Number in population on 1 January 2006 = 30,000 Estimate the central exposed to risk (all ages) for this population over each of the following periods, given only the census counts 2004 , Pzoos and P2006 - In each case, state any assumptions you have made. (1) Period: 1 January 2004 to 31 December 2005 [2] (ii) Period: 1 July 2004 to 30 June 2005 [2] (iii) Period: 1 January 2006 to 31 December 2006 [2] (iv) Period: 1 April 2005 to 31 March 2006 [2] [Total 8]

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