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The market equilibrium price for wheat is $4 per bushel. On the following graph, use the green line (triangle symbol) to plot the marginal revenue
The market equilibrium price for wheat is $4 per bushel. On the following graph, use the green line (triangle symbol) to plot the marginal revenue curve for a typical wheat farmer. Use the orange line (square symbol) to plot the total revenue curve for this farmer. Marginal Revenue Total Revenue 0 1 2 3 4 5 6 7 8 9 10 10 9 8 7 6 5 4 3 2 1 0 TOTAL REVENUE & MARGINAL REVENUE (Dollars per bushel) QUANTITY (Bushels) True or False: Marginal revenue is the change in total revenue per bushel. In this case, $4 is the marginal revenue that remains constant and equal to price. True False
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