do fast. Costs and revenuesThe graph below shows the demand and marginal cost curves for the monopolist Mr. Peanut.a. Draw the marginal revenue curve. Plot only the endpoints of the graph below.21018015012090603010 20 30 40 50 60 70 80 90100 10 20 30 40Quantity per periodDMCToolsmarginal reve b. What are the values of the profit-maximizing output and price?Output:Price: $c. What are the values of output, price and total revenue when the firm's total revenue is maximized?Output:Price: $Total revenue: $

Here we have to analyse the profit maximising and revenue maximizing output, price and total…

b. What are the values of the profit-maximizing output and price? Output: Price: $ c. What are the values of output, price and total revenue when the firm's total revenue is maximized? Output: Price: $ Total revenue: $

b. What are the values of the profit-maximizing output and price? Output: Price: $ c. What are the values of output, price and total revenue when the firm's total revenue is maximized? Output: Price: $ 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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Question

do fast.

Costs and revenues
The graph below shows the demand and marginal cost curves for the monopolist Mr. Peanut.
a. Draw the marginal revenue curve. Plot only the endpoints of the graph below.
210
180
150
120
90
60
30
10 20 30 40 50 60 70 80 90100 10 20 30 40
Quantity per period
D
MC
Tools
marginal reve

b. What are the values of the profit-maximizing output and price?
Output:
Price: $
c. What are the values of output, price and total revenue when the firm's total revenue is maximized?
Output:
Price: $
Total revenue: $

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Step 4: Revenue maximizing output, Price and Revenue (c):

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