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Please answer questions and do the graphs 1. Problems and Applications Q1 A publisher faces the following demand schedule for the next novel from one

image text in transcribedimage text in transcribedimage text in transcribedPlease answer questions and do the graphs

1. Problems and Applications Q1 A publisher faces the following demand schedule for the next novel from one of its popular authors: PriceQuantity Demanded (Dollars) (Copies) 100 90 80 70 60 50 40 30 20 10 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 1,000,000 The author is paid $2 million to write the novel, and the marginal cost of publishing the novel is a constant $10 per copy Complete the second, fourth, and fifth columns of the following table by computing total revenue, total cost, and profit at each quantity Quantity Total Revenue (Coples) (Dollars) Marginal Revenue (Dollars) Total Cost (Dollars) Profit (Dollars) 0 100,000 200,000 300,000 400,000 500,000 600,000 700,000 800,000 900,000 1,000,000 0 9,000,000 16,000,000 21,000,000 24,000,000 25,000,000 24,000,000 21,000,000 16,000,000 9,000,000 0 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 9,000,000 10,000,000 11,000,000 12,000,000 -2,000,000 6,000,000 12,000,000 16,000,000 18,000,000 18,000,000 16,000,000 12,000,000 6,000,000 -2,000,000 -12,000,000 90 70 50 30 -30 50 70 90

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