Assume the demand curve for Pepsi passes through the following two points. Price per Number of bottle bottles of Pepsi of Pepsi sold $2.75 50,000 $1.25 275,000 1.) Use the line drawing tool to draw a linear demand curve that includes these two points. Label this line 'Demand.' 2.) Use the rectangle drawing tool to show on the graph the area that represents total revenue at a price of $2.75. Label the rectangle 'Revenue.' Carefully follow the instructions above, and only draw the required objects. Price (dollars) 3.00 2.50 2.00 1 .50 1 .00 0.50 0.00 0 50,000 100,000 150,000 Quantity (b0 200,000 250,000 300,000 ties) '09 The diagram to the right illustrates a hypothetical demand curve representing the relationship between price (in dollars per unit) and quantity (in 1,000s of units per unit of time). The area of the triangle shown on the diagram is $D. (Enter your response as an integer.) Price (dollars per unit) 100- E40 571 ' I 0 '| 1D . . | I . - . I 2'0 3'0 40 50 6'0 7'0 8'0 9'0 100 Quantity (1,0005 of units per unit of time) an ,0 up The bar graph to the right illustrates hypothetical data for the market share for the United States automobile market. The percentage of the U.S. market that U.S. U.S. Automobile Industry Market Share 757 auto firms control is %. (Enter your response as an integer.) 70- 65- 60 55 50 Percent Share US Japanese European KoreanConsider the demand curve illustrated in the figure to the right. Suppose at a price of $5 per unit, a firm's corresponding revenue is represented by the green shaded + area. 10.00- What is the firm's revenue? 9.00- 8.00 The firm's revenue equals $ . (Enter your response as an integer.) 7.00- 6.00- Price ($ per unit) 5.00- 4.00- 3.00- 2.00- 1.00- Demand 0.00- 0 200 400 600 800 1000 QuantitySuppose an inverse demand curve has the following equation: 5.00 P = 3 - 0.01 0. 4.50 Use the line drawing tool to graph the demand curve in the gure. Make sure to 4-00 extend the line from the vertical axis to the horizontal axis. Attach the provided 3 50 label. 2 ' S 3.00 Carefully follow the instructions above, and only draw the required object. 33 3 2.50 ,3 2.00 n': 1.50 1.00 0.50 0.00 0 400 800 1,200 1,600 2,000 Quantity The diagram to the right shows a hypothetical demand curve for apples. The slope of this curve is D. (Enter your response rounded to two decimal places. Include a minus sign if appropriate.) Price (dollars per bushel) 80.00 70.00 60.00 50.00 40.00 30.00 20.00 Demand Curve for Apples 9,0 10.00 0.00 ...m.n...................................i...n 0 10 20 30 40 50 60 70 80 90 100 Quantity (bushels per week) The slope of a curve is defined as the Ay divided by the Ax . (Assume the y + 107 values are on the vertical axis and the x values are on the horizontal axis) Suppose your business operates a machine at a cost of $100 per day whether it is used or not plus $50 for each hour it is used. Use the line drawing tool to draw the daily cost curve for this machine assuming an 8 hour day. Label the curve 'cost'. Cost ($ hundreds) Carefully follow the instructions above, and only draw the required object. w 2 . 5 6 7 8 9 10 Hours per day