Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (plus symbol)to plot the firm's marginal revenue curve on the following graph. (Round all values to the nearest increment of 10.)5040Marginal Revenue05 102040 45 50QUANTITY (Units)Comparing your total revenue graph to your marginal revenue graph, you can see that when total revenue is increasing, marginal revenue isMARGINAL REVENUE (Dollars)a-101525 30 35 mwy w grupi i ving withopoinviny universo in un grup nove mi viviys wwww.vg.Graph Input Tool?Market for Goods25QuantityDemanded(Units)Demand Price(Dollars per unit)25.00Demand+0155452050QUANTITY (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 greenpoints (triangle symbol) to plot the results.630567A504Total Revenue44137831525218912663PRICE (Dollars per unit)TOTAL REVENUE (Dollars)504540353025201510501025 30 35 400 +05 1045 5015 20 25 30 35QUANTITY (Number of units)Calculate the total revenue if the firm produces 10 versus 9 units. Then, calculate the marginal revenue of the 10th unit produced.The marginal revenue of the 10th unit produced is $Calculate the total revenue if the firm produces 20 versus 19 units. Then, calculate the marginal revenue of the 20th unit produced.The marginal revenue of the 20th unit produced is $40

Answer: Price (P) (dollars per unit) Quantity (Q) (units of output) Total revenue (TR)= P*Q…

Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (plus symbol) to plot the firm's marginal revenue curve on the following graph. (Round all values to the nearest increment of 10.) 50 40 Marginal Revenue 30 0 5 10 40 45 50 15 20 25 30 35 QUANTITY (Units) Comparing your total revenue graph to your marginal revenue graph, you can see that when total revenue is increasing, marginal revenue is MARGINAL REVENUE (Dollars) 8 10 0 -10

Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (plus symbol) to plot the firm's marginal revenue curve on the following graph. (Round all values to the nearest increment of 10.) 50 40 Marginal Revenue 30 0 5 10 40 45 50 15 20 25 30 35 QUANTITY (Units) Comparing your total revenue graph to your marginal revenue graph, you can see that when total revenue is increasing, marginal revenue is MARGINAL REVENUE (Dollars) 8 10 0 -10

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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