Note:-Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism.Answer completely.You will get up vote for sure. 3. Total and average revenue of a monopolistSuppose that Musashi is the only seller of trekking poles in a small town. The following graph shows the demand and marginal revenue (MR) curvesfacing Musashi. Use the green rectangle labeled Total Revenue (triangle symbols) to compute total revenue at various prices along the demand curve.To see the area of the Total Revenue rectangle, click the shaded area with your mouse. (Note: You will not be graded on where you place therectangle.)PRICE (Dollars per pole)10090807060504030201000Demand245697 8QUANTITY (Thousands of trekking poles per month)1MR310Total Revenue?On the following graph, use the green points (triangle symbol) to plot monthly total revenue at prices of $70.00, $60.00, $50.00, $40.00, $30.00,$20.00, and $10.00 per trekking pole. Be sure to use all of the points provided. Line segments will automatically connect the points. Then, considerthe quantity of trekking poles at which Musashi's marginal revenue exactly equals zero. Place a grey point (star symbol) on the total revenue curve toindicate this quantity. Note: Drop lines will automatically extend to both axes.TOTAL REVENUE (Thousands of dollars per month)20018016014012010080604020O031 245678QUANTITY (Thousands of trekking poles per month)H10If Musashi sells 2,000 poles at the highest price consumers are willing to pay according to the demand curve, his average revenue will be$per pole.More than 4,000 poles, but no more than 8,000 polesMore than 8,000 polesTotal RevenueConsider the elasticity of demand along the demand curve. Even though the cost curves are not shown, you can conclude that Musashi will produce:No more than 4,000 poles(~.)

It can be defined as a tool that is used to find out the average income of an organization or any…

3. Total and average revenue of a monopolist Suppose that Musashi is the only seller of trekking poles in a small town. The following graph shows the demand and marginal revenue (MR) curves facing Musashi. Use the green rectangle labeled Total Revenue (triangle symbols) to compute total revenue at various prices along the demand curve To see the area of the Total Revenue rectangle, click the shaded area with your mouse. (Note: You will not be graded on where you place the rectangle.) 100 90 80 Total Revenue (?)

3. Total and average revenue of a monopolist Suppose that Musashi is the only seller of trekking poles in a small town. The following graph shows the demand and marginal revenue (MR) curves facing Musashi. Use the green rectangle labeled Total Revenue (triangle symbols) to compute total revenue at various prices along the demand curve To see the area of the Total Revenue rectangle, click the shaded area with your mouse. (Note: You will not be graded on where you place the rectangle.) 100 90 80 Total Revenue (?)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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