6789 Based on the table, what is total revenue for John's Tricycle Company if it produces at its profit- maximizing output? Output Marginal Cost Total Revenue 7,500 5. 1,300 0006 10,500 1,500 13,500 000 O 10,500 O 11.900 000
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- Duck Donuts sells plain and premium donuts. Premium donuts are plain donuts with special toppings. Demand for plain (PL) donuts is: PPL = 3 - 0.2QPL and Demand for premium (PR) donuts is: PPR = 4.4 - 0.4QPR The marginal cost for each is: MCPL = 0.20 MCPR = 0.40 Which of the following statements is true? a.Plain donuts generate more Total Revenue than premium donuts b.More premium donuts will sell than plain donuts c.Only premium donuts should be sold d.Only plain donuts should be sold e.Premium donuts generate more Total Profit than plain donutsAVAC is the only pharmaceutical firm producing a Vaccine. The Demand Curve for its product is Qd = 250 – 50 P where P is Price and Q are packs of vaccines in ‘000 Total Cost Function estimated by the firm is TC = 15 + 0.5Q where Q is monthly output. What is the market structure of AVAC? State its characteristics. Using available information, draw AVAC’s demand, marginal revenue and marginal cost curves in a graph and clearly label thefirm’s profit maximizing price, quantity and profit. Do you observe any welfare loss? If so, also indicate and label the area on the graph.define the term “wheat hectarage allotment” and analyse how a farmer would maximise profit under “wheat hectarage allotment”..
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