MindTap - Cengage Learning X Course Hero X + X C https:/g.cengage.com/staticb/ui/evo/index.html?deploymentld=5813538219621591114194498&elSBN=978133... A CJ . . . > > CENGAGE | MINDTAP Q Search this course ? Homework: Monopoly (Ch 23) X 2. Calculating marginal revenue from a linear demand curve The blue curve on the following graph represents the demand curve facing a firm that can set its own prices. A-Z E Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. EI Graph Input Tool (? + 150 Market for Goods 135 Quantity 25 bongo 120 Demanded (Units) Demand Price 75.00 (Dollars per unit) PRICE (Dollars per unit) ? Demand A+ O C+ 0 5 15 20 25 30 35 40 45 50 QUANTITY (Units) O 41.F Sunny Q Search W 9:32 AM 4/6/2024 PREMindTap - Cengage Learning X Course Hero X + X C https:/g.cengage.com/staticb/ui/evo/index.html?deploymentld=5813538219621591114194498&elSBN=978133... A . . . CENGAGE | MINDTAP Q Search this course ? Homework: Monopoly (Ch 23) X On the previous graph, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 10, 20, 25, 30, 40, or 50 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. A-Z E T EI 1880 1692 + 1 2 1504 Total Revenue 1316 bongo 1128 TOTAL REVENUE (Dollars) 940 752 564 376 ? A+ 188 0 0 5 10 15 20 25 30 35 40 45 50 C+ QUANTITY OF OUTPUT (Number of units) O 41.F Sunny Q Search W 9:32 AM 4/6/2024 PREMindTap - Cengage Learning X Course Hero X + X C https:/g.cengage.com/staticb/ui/evo/index.html?deploymentld=5813538219621591114194498&elSBN=978133... A CJ . . . CENGAGE | MINDTAP Q Search this course ? Homework: Monopoly (Ch 23) X Calculate the total revenue if the firm produces 10 versus 9 units. Then, calculate the marginal revenue of the 10th unit produced. The marginal revenue of the 10th unit produced is $ A-Z E Calculate the total revenue if the firm produces 20 versus 19 units. Then, calculate the marginal revenue of the 20th unit produced. o The marginal revenue of the 20th unit produced is $ EI Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (plus symbol) to plot the firm's marginal revenue curve on the following graph. (Round all values to the nearest increment of 30.) + bongo 150 120 Marginal Revenue ? 90 A+ MARGINAL REVENUE (Dollars) 60 30 0 41 . F Sunny Q Search W 9:32 AM 4/6/2024 PREMindTap - Cengage Learning X Course Hero X + X C https:/g.cengage.com/staticb/ui/evo/index.html?deploymentld=5813538219621591114194498&elSBN=978133... A CJ . . . CENGAGE | MINDTAP Q Search this course ? Homework: Monopoly (Ch 23) X 150 +- A-Z 120 Marginal Revenue o 90 EI MARGINAL REVENUE (Dollars) 60 + 1 2 30 bongo 0 30 5 10 15 20 25 30 35 40 45 50 maximized QUANTITY OF OUTPUT (Units) equal to zero ? minimized A+ Comparing your total revenue graph to your marginal revenue graph, you can see that total revenue is at the output at which marginal revenue is equal to zero. O Grade It Now Save & Continue Continue without saving 41.F Q Search 9:32 AM Sunny 4/6/2024 PRE