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Elixir Spring's mineral water is unique and highly prized. The firm's total fixed cost is Price and cost (dollars per bottle) $3,000 a day and
Elixir Spring's mineral water is unique and highly prized. The firm's total fixed cost is Price and cost (dollars per bottle) $3,000 a day and its marginal cost is zero. The table gives the demand schedule for 12 bottles Price Quantity 10 (dollars per bottle) (bottles per day) 10 0 8,000 16,000 ONDOO 24,000 32,000 40,000 Draw the firm's demand curve. Label it D. Draw the firm's marginal revenue curve. Label it MR. Draw the firm's marginal cost curve. Label it MC. Draw a point at the profit-maximizing price and output What is Elixir's economic profit? Elixir's economic profit is $|a day. 8000 16000 24000 32000 40000 48000 Quantity (bottles per day) > >> If the firm incurs an economic loss, indicate the loss with a minus sign. If the firm makes an economic profit, do not include a plus sign. >>> Draw only the objects specified in the
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