D2L Homepage - ECON13936 Micro E X M Question 2 - Post Class Quiz #4: ( X + X C @ https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mhe... A" to . . . Post Class Quiz #4: Chapters 6 & 7 i Saved Help Save & Exit Submit 2 Nirvana Resort operates in an oligopoly. The resort's room rentals are O per night at a rate of $200, 15 at $180, 30 at $160, 35 at $140, and 40 at $120, as shown in the graph below. M Nirvana Resort's Demand and Marginal Revenue Curves 8 01:50:47 220 200 D + 180 MR 160 140 120 $ per room 100 -20 Mc Graw Hill N 3:15 PM Lr W P Ps O 4/9/2023D2L Homepage - ECON13936 Micro E X M Question 2 - Post Class Quiz #4: ( X + X C https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Flms.mhe... A Lo . . . Post Class Quiz #4: Chapters 6 & 7 i Saved Help Save & Exit Submit a. Fill in this table. Remember that marginal values for marginal product are shown in rows between those used to show total 2 and average values. Include a minus sign (-) for any negative values. (2) (1) Quantity (3) (4) Price (rooms per Total Revenue Marginal Revenue M ($ per room) night) ($ ) ($ per room) 8 01:50:36 10 180 + 160 140 120 b. Why does the resort face a kink in its demand curve at a quantity of 30 rooms per night? In the ranges 0 to 15 rooms and 15 to 30 rooms, each time the price falls by $ . Quantity on the demand curve increases by rooms. In the ranges 30 to 35 rooms and 35 to 40 rooms, each time the price falls by $ . Quantity on the demand curve increases by rooms. a Wilhu dann tha ranArtle AD Almia havin a wartinal - tainted with the links in the damand allmin ? Mc Graw Hill 3:15 PM N Lr PS O' O 4/9/2023D2L Homepage - ECON13936 Micro E X M Question 2 - Post Class Quiz #4: ( X + X C https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mhe... A" to . . . Post Class Quiz #4: Chapters 6 & 7 i Saved Help Save & Exit Submit Price (rooms per Total Revenue Marginal Revenue ($ per room) night) ($ ) ($ per room) 2 206 O 180 M 160 8 01:50:31 140 + 120 b. Why does the resort face a kink in its demand curve at a quantity of 30 rooms per night? In the ranges 0 to 15 rooms and 15 to 30 rooms, each time the price falls by $ . Quantity on the demand curve increases by rooms. In the ranges 30 to 35 rooms and 35 to 40 rooms, each time the price falls by $ Quantity on the demand curve increases by rooms. c. Why does the resort's MR curve have a vertical segment at the quantity associated with the kink in the demand curve? The MR segment associated with the upper portion of the demand curve has a |(Click to select) v | value at 30 rooms than does the MR segment associated with the lower portion of the demand curve. Mc Graw Hill OLEA N 3:15 PM Lr PS (O' O 4/9/2023