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QUESTION 7 Suppose a company sells paintings for $250 a piece. Calculate the required values: Quantity Total Revenue Marginal Revenue A B What is the
QUESTION 7 Suppose a company sells paintings for $250 a piece. Calculate the required values: Quantity Total Revenue Marginal Revenue A B What is the value of A? O $1000 O Unable to calculate with given information. O $750 O $250 QUESTION 8 What is the value of B? O $0 O) Unable to calculate with given information. $100 O $250 O $1250QUESTION 9 Now suppose we add in total cost for this company. Quantity Total Cost 200 300 450 600 800 1200 1600 Given this information, how many paintings will the company produce (assuming paintings are a competitive market)? Hint: Use both this table with total cost and the revenue table from the last question to answer. 0 1 O2 0 3 0 4 0 5 6
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