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PLEASE ANSWER THE GRAPHS AND SHOW WORK!!!! Thank you :) Comparing your total revenue graph to your marginal revenue graph, you can see that when
PLEASE ANSWER THE GRAPHS AND SHOW WORK!!!! Thank you :)
Comparing your total revenue graph to your marginal revenue graph, you can see that when total revenue is increasing, marginal revenue is (positive, negative, or equal to zero).
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 (?) 200 Market for Goods Quantity Demanded 140 Demand Price 100.00 (Dollars per wnt) 120 PRICE (Dollars per unit] 100 Demand 40 12 18 20 24 28 32 38 40 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, 8, 16, 20, 24, 32, and 40 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.1800 Total Revenue 1800 1400 1208 TOTAL REVENUE (Dollars) 1000 400 300 12 18 20 24 28 32 40 QUANTITY (Number of units) Calculate the total revenue if the firm produces & versus 7 units. Then, calculate the marginal revenue of the eighth unit produced. The marginal revenue of the eighth unit produced is |$ Calculate the total revenue if the firm produces 16 versus 15 units. Then, calculate the marginal revenue of the 16th unit produced. The marginal revenue of the 16th unit produced is |B 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.202 Marginal Revenue 140 120 MARGINAL REVENUE (Dollars) 40 12 18 20 24 32 40 QUANTITY (Units) Comparing your total revenue graph to your marginal revenue graph, you can see that when total revenue is increasing, marginal revenue isStep by Step Solution
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