Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

. 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.

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

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Finance questions

Question

=+3. This is a project into which you can sink your teeth.

Answered: 1 week ago

Question

=+8. We cant wait __________ their decision much longer.

Answered: 1 week ago