8 Assignment 2TOTAL REVENUE DM.Ce the total revenue of the firm produces 10 versus 9 units. Thes, calculate the marginal revenue of the 10th unit producedThe marginal revenue of the 10th unit produced iM.M M nQUANTITY Nnber of unCalculate the total revenue the firm produces 20 versus 19 units. Then, calculate the marginal revenue of the 20th unit producedThe event of the 20th un produced in 1Based in your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (plus symbol)to the firm's marginal revenue curve on the following graph, (Round all values to the nearest increment of 30.)2. "W 23GUANTITYMerginal RevenueCimparing your total revenue graph to your marginal revenue graph, you can see that when total revenue is decreasing, marginal revenue isGrade It NowSave & ContinueContinue without saving 12. Calculating marginal revenue from a linear demand curveThe blue curve on the following grach represents the demand curve facing a firm that can set its own prices.the the praph input tood to help you answer the following questions. You will not be scored on any changes you make to this graphNote: Once you enter a value in a white field, the ginaph and any corresponding amounts in each grey field will change accordingly.PECE Dotas ser unt855KSERSTOTAL REVENUE Dola150134120105D100011041316BusMOOn the previous graph, 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, or 50 units of outpot. Calculate the total revenue for each of these production levels. Then on the following graph, use the greenpoints (triangle symbol) to plot the results152376".DemandS 10 15 20 25 30 35 45 50QUANTITY (Units)" M 29 263 36QUANTITY (Number of units)Graph Input ToolMarket for GoodsQuantityDemanded(Units)MDemand Price(Dollars per unit)ATotal Revenue25Ⓡ75.00

the marginal revenue curve is dependably beneath the demand curve when the demand curve is…

The blue curve on the following graph represents the demand curve facing a firm that can set its own prices the the praph input tool to help you answer the following questions. You will not be scored on any changes you make to this graph you der a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Note: Once FRECE Dotas sind B55ESORE TOTAL REVENUE (Do 186 11 . 11121 1000 1396 Demand 376 110 15 20 254650 QUANTITY() On the previous graph, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 8, 10 20, 25, 30, 40, or 50 units of output. Calculate the total revenue for each of these production levels. Ther, on the following graph, use the green points (triangle symbol) to plot the results Graph Input Tool Market for Goods Quantity Demanded (Units) Demand Price (Dollars per unit) A Total Revenue 25 ? 75.00

The blue curve on the following graph represents the demand curve facing a firm that can set its own prices the the praph input tool to help you answer the following questions. You will not be scored on any changes you make to this graph you der a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Note: Once FRECE Dotas sind B55ESORE TOTAL REVENUE (Do 186 11 . 11121 1000 1396 Demand 376 110 15 20 254650 QUANTITY() On the previous graph, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 8, 10 20, 25, 30, 40, or 50 units of output. Calculate the total revenue for each of these production levels. Ther, on the following graph, use the green points (triangle symbol) to plot the results Graph Input Tool Market for Goods Quantity Demanded (Units) Demand Price (Dollars per unit) A Total Revenue 25 ? 75.00

Principles of Economics (MindTap Course List)

8th Edition

ISBN:9781305585126

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter14: Firms In Competitive Markets

Section: Chapter Questions

Problem 4PA

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A computer company produces affordable, easy-to-use home computer systems and has fixed costs of 250. The marginal cost of producing computers is 700 for the first computer, 250 for the second, 300 for the third, 350 for the fourth, 430 for the fifth, 450 for the sixth, and 500 for the seventh. Create a table that shows the companys output, total cost, marginal cost, average cost, variable cost, and average variable cost. At what price is the zero-profit point? At what price is the shutdown point? If the company sells the computers for 500, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVG curves to illustrate your answer and show the profit or loss. If the firm sells the computers for 300, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVG curves to illustrate your answer and show the profit or loss.
Based on your answers to the WipeOut Ski Company in Exercise 7.3, now imagine a situation where the firm produces a quantity of 5 units that it sells for a price of 25 each. What will be the companys profits or losses? How can you tell at a glance whether the company is making or losing money at this price by looking at average cost? At the given quantity and price, is the marginal unit produced adding to profits?
How does fixed cost affect marginal cost? Why is this relationship important?
What is the relationship between marginal product and marginal cost? (Hint: Look at the curves.) Why do you suppose that is? Is this relationship the same in the long run as in the short run?
Return to Figure 7.7. What is the marginal gain in output from increasing the number of batters from 4 to 5 and from 5 to 6? Does it continue the pattern of diminishing marginal returns? Figure 7.7 How output Affects Total costs
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the table below shows the output cost and revenue situation of a firm. Study the table and asnwer the questions that fllows Q TVC TC MC P TR MR 0 0 150 0 200 0 - 1 110 C 110 175 175 175 2 170 320 G 150 I L 3 A D 46 135 405 105 4 250 E 34 120 J M 5 B 445 H 105 525 45 360 F 65 90 K N (a) what is the fixed cost of the firm? Explain your answer (b) determine the values from A-M by showing all workings employed (c) At what quantity and price is the firm in equilibrium position and in what market is the firm oeperating? explain your answer
answer this question bu not on excel
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WHat happens when a company does not follow economic heory and charges prices below the marginal revenue point or whenit does not realize the economies of scales????Curious. Please explain. Not a graded question. I need an explanation
Suppose for a single firm thatP = 15TC = 3Q + 2Q2 (a) What is the profit-maximizing quantity? (b) What is the profit at the profit-maximizing quantity? Only typed Answer
Total Total Revenue Cost Quantity (TR) (TC) Profit (MR) (MC) 0 0 8 1 8 10 2 16 11 3 24 13 4 32 16 5 40 20 6 48 27 7 56 36 8 64 47 9 72 65 10 80 90 Marginal Marginal Revenue Cost Fill in the table to determine the profit maximizing level of output, price, and profit. The optimal quantity is A/ A (number) units, the optimal price is (number) dollars, which maximizes (number) dollars. This table A profits at displays profit maximization under the (perfect competition / monopolistic competition / oligopoly / monopoly) market structure.