TOTAL REVENUE (Dollars)1000900800MARGINAL REVENUE (Dollars)7006005004003002001000 A0200Calculate the total revenue if the firm produces 4 versus 3 units. Then, calculate the marginal revenue of the fourth unit produced.The marginal revenue of the fourth unit produced is $130.160Calculate the total revenue if the firm produces 8 versus 7 units. Then, calculate the marginal revenue of the eighth unit produced.The marginal revenue of the eighth unit produced is $50120+2Based 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 40.)(?)404-4008 10 12 14QUANTITY (Number of units)2416 18 208 10 12 14QUANTITY (Units)Total Revenue16 1820Marginal RevenueComparing your total revenue graph to your marginal revenue graph, you can see that when total revenue is increasing, marginal revenue isnegative 2. Calculating marginal revenue from a linear demand curveThe blue curve on the following graph represents the demand curve facing a firm that can set its own prices.Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly.PRICE (Dollars per unit)200180160140120100806040200+0+2 4Demand6 8 10 12 14QUANTITY (Units)1618 20Graph Input ToolMarket for GoodsQuantityDemanded(Units)Demand Price(Dollars per unit)10100.00(?)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, 4,8, 10, 12, 16, and 20 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.

Marginal revenue is the additional revenue gained from selling one more unit of a product or…

2. Calculating marginal revenue from a linear demand curve The blue curve on the following graph represents the demand curve facing a firm that can set its own prices. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. 200 180 160 140 Graph Input Tool Market for Goods Quantity Demanded (Units) Demand Price (Dollars per unit) 10 100.00

2. Calculating marginal revenue from a linear demand curve The blue curve on the following graph represents the demand curve facing a firm that can set its own prices. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. 200 180 160 140 Graph Input Tool Market for Goods Quantity Demanded (Units) Demand Price (Dollars per unit) 10 100.00

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

The following graph shows the short-run supply curve for pistachios. Place the orange line (square symbol) on the following graph to show the most likely long-run supply curve for pistachios. (Note: Place the points of the line either on F and W or on F and N.) PRICE (Dollars per pound) 48 40 32 16 8 0 F 4 2 6 8 10 QUANTITY (Thousands of pounds of pistachios) W Short-Run Supply 12 Long-Run Supply (?)
Answer this question in the image below.
Homework (Ch 05) On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $50, $75, $100, $125, $150, $175, and $200 per scooter. TOTAL REVENUE (Dollars) 7830 7290 6750 8210 5670 5130 4590 4050 3510 2970 0 25 50 75 100 125 150 175 200 225 250 275 300 325 PRICE (Dollars per scooter) Total Revenue gage Learning According to the midpoint method, the price elasticity of demand between points A and B is approximately Suppose the price of scooters is currently $25 per scooter, shown as point B on the initial graph. Because the demand between points A and B is a $25-per-scooter increase in price will lead to in total revenue per week. In general, in order for a price increase to cause a decrease in total revenue, demand must be
5
The following graph illustrates the weekly demand curve for motorized scooters in Roanoke. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per scooter) 300 275 250 200 175 150 125 100 75 50 0 0 + 3 6 9 x 4 * B Demand 12 15 18 21 24 27 QUANTITY (Scooters) 30 33 36 39 Total Revenue ?
Suppose postal service of pakistan is facing increased competition from firms providing overnight delivery of packages.what will be the effect of this competition on market for mail delivered by post office
Suppose that the chicken industry is in long-run equilibrium at a price of $5 per pound of chicken and a quantity of 250 million pounds per year. Suppose that the Centers for Disease Control (CDC) announces that a chemical found in chicken is causing bacterial infections to spread around the world. The CDC's announcement will cause consumers to demand Shift the demand curve, the supply curve, or both on the following graph to illustrate these short-run effects of the CDC's announcement. PRICE (Dollars per pound) 78°F Sunny 10 9 8 Supply chicken at every price. In the short run, firms will respond by Demand F5 H Demand Supply O J (?) [+ & F9 O F10 F11 F12 Fn
3. Profit maximization in the cost-curve diagram Suppose that the market for frying pans is a competitive market. The following graph shows the daily cost curves of a firm operating in this market Hint: After placing the rectangle on the graph, you can select an endpoint to see the coordinates of that point. 100 90 Profit or Loss 80 70 ATC 60 50 40 30 AVC 20 MC 10 5 10 15 20 25 30 35 40 45 50 QUANTITY (Thousands of pans per day) In the short run, at a market price of $50 per pan, this firm will choose to produce 37,500 pans per day. PRICE (Dollars perpan)
Use the table to construct an approximate demand curve for memory form seat cushion. I just want to know if I graph it correctly.
Behind the Supply Curve: Inputs and Costs Work It Out: Question 2 of 5 The accompanying table shows a car manufacturer's total cost of producing cars. Calculate the variable cost (VC) for the following quantities. VC for a quantity of 0: $ VC for a quantity of 5: $ VC for a quantity of 9: $ 0 Quantity of cars Total Cost $500,000 540,000 560,000 570,000 590,000 620,000 660,000 720,000 800,000 920,000 1,100,00 0 1 2 3 4 5 6 7 8 9 10
5. Demand functions are X-100-Px and Y=152-2Py Total Cost is C-6x2 + 4y2 +4xy + 110, Optimize the profit using two variable regular optimization formula.
Answer the question in the image below