Dani sells roses in a competitive market where the price of a rose is $7. Use this information to fill out the missing entries as indicated by letters X, Y and Z in the revenue columns in the table below. Instructions: Enter your answers as whole numbers. Quantity of Roses 11 2 3 14 5 X= 14; Y =7; Z =7 OX= 7; Y =21; Z =7 X= 14; Y = 7; Z =35 X= 14; Y = 21; Z=7 Total Revenue $7 $X GAGA Average Revenue $7 $ $Y SA $7 Marginal Revenue $7 EA EA GAGA $ Z

Dani sells roses in a competitive market where the price of a rose is $7. Use this information to fill out the missing entries as indicated by letters X, Y and Z in the revenue columns in the table below. Instructions: Enter your answers as whole numbers. Quantity of Roses 11 2 3 14 5 X= 14; Y =7; Z =7 OX= 7; Y =21; Z =7 X= 14; Y = 7; Z =35 X= 14; Y = 21; Z=7 Total Revenue $7 $X GAGA Average Revenue $7 $ $Y SA $7 Marginal Revenue $7 EA EA GAGA $ Z

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter8: Understanding Markets And Industry Changes

Section: Chapter Questions

Problem 8.6IP

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