Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Complete instructions:1.) using the point drawing tool, plot 2 marginal cost points for an output level of 4 and 10 units. Do not label.2.) using

Complete instructions:1.) using the point drawing tool, plot 2 marginal cost points for an output level of 4 and 10 units. Do not label.2.) using the line drawing tool, draw the marginal cost from an output level of 4 to 10 units. Label.3. Using the line drawing tool, draw the marginal revenue line and label it.The profit maximizing output level is ___ pizzas.

image text in transcribed
Take a Test - Amanda Hudson - Personal - Microsoft Edge https://www.mathxl.com/Student/PlayerTest.aspx?testid-228072947¢erwin=yes MICROECONOMIC PRINCIPLES - 60431 - ECON 2002 Amanda Hudson Test: Final Test Time Lim This Question: 1 pt 35 of 64 (56 complete) TH Output Hourly Total Total & Sales Cost Revenue Economic MC MR of Pizzas ($) ($) Profit ($) ($) ($) 20,00 4 0 XXX XXX 18 00- 8 10 N 5 10 10 20 10 10 16.00 11 30 19 10 14.00- 4 13 40 27 2 10 5 17 50 33 4 10 12 00- 6 23 60 37 6 10 10 00 31 70 39 8 10 8 41 80 39 10 10 8 00- 9 53 90 37 12 10 6 00- 10 69 100 31 14 10 4 00- Based on the information in the table above, 2 00 1.) Using the point drawing tool, plot two marginal cost (MC) points for an output level of 4 and 10 units. Do not 0.00- label these points. 2 3 4 5 6 7 8 9 10 11 12 13 14 Output (number of pizzas) 2.) Using the line drawing tool, draw the marginal cost from an output level of 4 to 10 units. Properly label this Click the graph, choose a tool in the palette and follow the instructions to create your graph Type here to search O 994 L O W Q X 9

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_2

Step: 3

blur-text-image_3

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

Public Administration And Law

Authors: David H Rosenbloom, Rosemary O'Leary, Joshua M Chanin

3rd Edition

1439803986, 9781439803981

More Books

Students also viewed these Economics questions