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. From the above numbers, develop a revenue curve. Graph it. Price Demand in Dollars in Units $11.00 0 $10.00 20,000 $9.75 40,000 $9.50 60,000
. From the above numbers, develop a revenue curve. Graph it.
Price | Demand | |
in Dollars | in Units | |
$11.00 | 0 | |
$10.00 | 20,000 | |
$9.75 | 40,000 | |
$9.50 | 60,000 | |
$9.25 | 80,000 | |
$9.00 | 100,000 | |
$8.75 | 120,000 | |
$8.50 | 140,000 | |
$8.25 | 160,000 | |
$8.00 | 180,000 | |
$7.75 | 200,000 | |
$7.50 | 220,000 | |
$7.25 | 240,000 | |
$7.00 | 260,000 | |
$6.75 | 280,000 | |
$6.50 | 300,000 |
B)From the following information, develop a total cost curve. Graph it with the revenue curve. Assume the fixed costs are $250,000.
Demand | Variable Cost |
in Units | per unit |
0 | $0.00 |
20,000 | $9.00 |
40,000 | $8.50 |
60,000 | $8.00 |
80,000 | $7.50 |
100,000 | $7.00 |
120,000 | $6.50 |
140,000 | $6.00 |
160,000 | $5.75 |
180,000 | $5.50 |
200,000 | $5.25 |
220,000 | $5.30 |
240,000 | $5.45 |
260,000 | $5.60 |
280,000 | $5.70 |
300,000 | $5.90 |
C.
Develop a profit curve for the firm, using the above revenue and total cost curves. Graph it.
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