Suppose MPH Book Store is the only bookstore in the Kota Warisan area near XMU. Figure 3 shows the demand curve for economics books and MPH's Book Store marginal revenue (MR) curve and marginal cost (MC) curve. MPH's Book Store will maximize its profit and set the price of the economic book equal to and has a total annual revenue of 100 80 60 MC 40 20 MR 20 40 60 80 100 120 Quantity (units per day) Figure 3 O a. $40, $1,600 O b. No correct answer О с. $60; S1,200 O d. $40; $800 Price and costs (dollars per
Suppose MPH Book Store is the only bookstore in the Kota Warisan area near XMU. Figure 3 shows the demand curve for economics books and MPH's Book Store marginal revenue (MR) curve and marginal cost (MC) curve. MPH's Book Store will maximize its profit and set the price of the economic book equal to and has a total annual revenue of 100 80 60 MC 40 20 MR 20 40 60 80 100 120 Quantity (units per day) Figure 3 O a. $40, $1,600 O b. No correct answer О с. $60; S1,200 O d. $40; $800 Price and costs (dollars per
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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9
![Suppose MPH Book Store is the only bookstore in the Kota Warisan area near XMU. Figure 3 shows the demand curve for
economics books and MPH's Book Store marginal revenue (MR) curve and marginal cost (MC) curve. MPH's Book Store will
maximize its profit and set the price of the economic book equal to
and has a total annual revenue of
100
80
60
MC
40
20
D
MR
20
40
60
80
100 120
Quantity (units per day)
Figure 3
O a. $40, $1,600
O b. No correct answer
O c. $60; $1,200
O d. $40; $800
Price and costs (dollars per unit)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff9f01a79-0647-4b27-8f56-56ca13248d07%2Fa9adc82b-fc29-4eee-ab50-3f541475798e%2Fffyl8h_processed.png&w=3840&q=75)
Transcribed Image Text:Suppose MPH Book Store is the only bookstore in the Kota Warisan area near XMU. Figure 3 shows the demand curve for
economics books and MPH's Book Store marginal revenue (MR) curve and marginal cost (MC) curve. MPH's Book Store will
maximize its profit and set the price of the economic book equal to
and has a total annual revenue of
100
80
60
MC
40
20
D
MR
20
40
60
80
100 120
Quantity (units per day)
Figure 3
O a. $40, $1,600
O b. No correct answer
O c. $60; $1,200
O d. $40; $800
Price and costs (dollars per unit)
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