The author is paid $800,000 to write the novel, and the marginal cost of publishing the novel is a constant $4 per copy. Complete the second, fourth, and fifth columns of the following table by computing total revenue, total cost, and profit at each quantity. Quantity Total Revenue Marginal Revenue Total Cost Profit (Copies) (Dollars) (Dollars) (Dollars) (Dollars) 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 500,000

The author is paid $800,000 to write the novel, and the marginal cost of publishing the novel is a constant $4 per copy. Complete the second, fourth, and fifth columns of the following table by computing total revenue, total cost, and profit at each quantity. Quantity Total Revenue Marginal Revenue Total Cost Profit (Copies) (Dollars) (Dollars) (Dollars) (Dollars) 50,000 100,000 150,000 200,000 250,000 300,000 350,000 400,000 450,000 500,000

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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\table[[Price, Quantity Demanded, Total Revenue (TR), \table [[Marginal Revenue], [(MR)]]], [$115, 0, 0, 0], [$ 100, 1, 100, 100], [$83, 2, 166, 66], [$71, 3, 213, 47], [$63, 4, 252, 39], [$55, 5, 275, 23], [$48, 6, 288, 13], [$ 42,7,294,6], [$37, 8, 296, 2], [$33, 9, 297, 1], [$29, 10, 290, -7]] using the data i provided make a graph that looks like the picture belowe Price, costs, and revenue $200 175 150 125 100 75 50 Pm=$122 Economic profit A = $94 J MD = MC Ć Profit per unit MC ATC D
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