ng.cengage.com C Bb Homework (Ch 15) - 2022SP Prin of Micr... MindTap - Cengage Learning Mail - Jade Olivia Cowan - Outlook of Mail - Jade Oli CENGAGE | MINDTAP Q Search Homework (Ch 15) 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. 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. Graph Input Tool (? Market for Goods Quantity 25 Demanded (Units) Demand Price (Dollars per unit) 25.0 PRICE (Dollars per unit) Demand 5 10 15 20 25 30 35 40 45 50 QUANTITY (Units) On the graph input tool, 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, and 50 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green MacBook Air A A 5 W E R P S D F G K X B N M mmand command opting.cengage.com C Home Bb Homework (Ch 15) - 2022SP Prin of Micr... Mind Tap - Cengage Learning Mail - Jade Olivia Cowan - Outlook Mail - Jade O CENGAGE | MINDTAP Q Search Homework (Ch 15) On the graph input tool, 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, and 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. ? 630 567 Total Revenue 504 441 378 TOTAL REVENUE (Dollars 315 252 126 10 15 20 25 35 40 45 50 QUANTITY (Number of units) 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 $ MacBook Air 3 C R U O P E S D G H K X C B N M mand command optioD ng.cengage.com Bb Homework (Ch 15) - 2022SP Prin of Micr... MindTap - Cengage Learning Mail - Jade Olivia Cowan - Outlook 10 Ma CENGAGE MINDTAP Homework (Ch 15) Calculate the total revenue if the firm produces 20 versus 19 units. Then, calculate the marginal revenue of the 20th unit produced. The marginal revenue of the 20th unit produced is $ 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 10.) 50 -+ 40 Marginal Revenue 30 MARGINAL REVENUE (Dollars) 20 10 0 -10 5 10 15 202 35 40 45 50 QUANTITY (Units) Comparing your total revenue graph to your marginal revenue graph, you can see that when total revenue is increasing, marginal revenue is MacBook Air DII 3 E R O P D F G H K X C B N M command50 40 Marginal Revenue 30 MARGINAL REVENUE (Dollars) 20 10 0 10 10 15 20 25 30 35 40 45 50 QUANTITY (Units) Comparing your total revenue graph to your marginal revenue graph, you can see that when total revenue is increasing, marginal revenue is Grade It Now Save & Continue Continue without saving MacBook Air 3 4 6 O O W E R U O P S D F G H K X C V B N M mand command