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The blue curve on the following graph represents the demand curve facing a rm that can set its own prices. Use the graph input tool
The blue curve on the following graph represents the demand curve facing a rm 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 (.71; 250 _. Market for Goods 225 . Quantity Demanded zoo {Units} '3 175 Demand Price 2 (Dollars per unit) 125'00 g 150 E =U 125 --------.+ D 9 100 5 _ 75 __ E Demand 50 25 0 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 points (triangle symbol) to plot the results. 3130 A 2817 Total Revenue 2504 A A 2191 1878 TOTAL REVENUE (Dollars) 1565 1252 939 626 313 5 10 15 20 25 30 35 40 45 50 QUANTITY (Number of units)
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