(a) Fill in the table below.Instructions: Round your answers to the nearest whole number.TotalMarginalRevenueTotalOutputPriceATCMCRevenueCost1$19$25218403.17504165815656147471387(b) Draw a graph of the firm's demand, marginal revenue, marginal cost, and average total cost curves.Instructions: Use the graphing tools provided to plot the demand (D), marginal revenue (MR), marginal cost (MC), and average totalcost (ATC) curves. Plot 7 points each for D, MR and ATC. Plot 6 points for MC. 26Tools242220DMR181614MCАТС121084123456.78QuantityPrice ($)6.

Since you have asked multiple questions and according to our policy we will only solve the 1st…

(a) Fill in the table below. Instructions: Round your answers to the nearest whole number. Total Marginal Revenue Total Output Price ATC MC Revenue $4 Cost 1 $19 $25 18 40 17 50 4 16 58 15 65 14 74 7 13 87

(a) Fill in the table below. Instructions: Round your answers to the nearest whole number. Total Marginal Revenue Total Output Price ATC MC Revenue $4 Cost 1 $19 $25 18 40 17 50 4 16 58 15 65 14 74 7 13 87

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter23: Profit Maximization

Section: Chapter Questions

Problem 11E

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Question

(a) Fill in the table below.
Instructions: Round your answers to the nearest whole number.
Total
Marginal
Revenue
Total
Output
Price
ATC
MC
Revenue
Cost
1
$19
$25
2
18
40
3.
17
50
4
16
58
15
65
6
14
74
7
13
87
(b) Draw a graph of the firm's demand, marginal revenue, marginal cost, and average total cost curves.
Instructions: Use the graphing tools provided to plot the demand (D), marginal revenue (MR), marginal cost (MC), and average total
cost (ATC) curves. Plot 7 points each for D, MR and ATC. Plot 6 points for MC.

26
Tools
24
22
20
D
MR
18
16
14
MC
АТС
12
10
8
4
1
2
3
4
5
6.
7
8
Quantity
Price ($)
6.

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