Give me correct solution otherwise i give downwoteNote:-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. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.Total Revenue, Total Cost20Total Revenue, Total Cost18161442 O0 O02018161412DO1002 0O0 O011☐O1☐The maximum profit this firm can earn is2O☐O2O☐3 4 5Quantity of Output (OutC2 345 678Quantity of Output (Output per day)☐O☐O☐☐OC☐TCTRThe maximum profit this firm can earn is$16 per week$4 per week$6 per week$5 per weekCTC+3684 57Quantity of Output (Output per day)TR9+91010FMaximum RevenueH10ΔMaximum Profitwhile the maximum total revenue it can earn isMaximum Revenue?Maximum Profit, while the maximum total revenue it can earn is$18 per week.$17 per week$16 per week$15 per week A firm has total revenue (TR) and total cost (TC) curves as shown on the following diagram. To complete the graph, you will have to illustrate twodistances with line segments.Determine the quantity of output that generates the maximum profit. Use the green points (triangle symbol) to indicate the amount of profit at thisquantity of output. Then, determine the quantity of output that generates the maximum total revenue. Use the purple points (diamond symbol) toindicate the amount of revenue at this quantity of output.

Profit refers to the difference between total revenue and total cost .Profit = Total Revenue - Total…

Answered: The maximum profit this firm can earn…

Business

Economics

The maximum profit this firm can earn is 18 16 A OD TC " while the maximum total revenue it can earn is Maximum 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

Give me correct solution otherwise i give downwote

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.

Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically.
Total Revenue, Total Cost
20
Total Revenue, Total Cost
18
16
14
4
2 O
0 O
0
2
0
18
16
14
12
DO
10
0
2 0
O
0 O
0
1
1
☐
O
1
☐
The maximum profit this firm can earn is
2
O
☐
O
2
O
☐
3 4 5
Quantity of Output (Out
C
2 3
4
5 6
7
8
Quantity of Output (Output per day)
☐
O
☐
O
☐
☐
O
C
☐
TC
TR
The maximum profit this firm can earn is
$16 per week
$4 per week
$6 per week
$5 per week
C
TC
+
3
6
8
4 5
7
Quantity of Output (Output per day)
TR
9
+
9
10
10
F
Maximum Revenue
H
10
Δ
Maximum Profit
while the maximum total revenue it can earn is
Maximum Revenue
?
Maximum Profit
, while the maximum total revenue it can earn is
$18 per week.
$17 per week
$16 per week
$15 per week

A firm has total revenue (TR) and total cost (TC) curves as shown on the following diagram. To complete the graph, you will have to illustrate two
distances with line segments.
Determine the quantity of output that generates the maximum profit. Use the green points (triangle symbol) to indicate the amount of profit at this
quantity of output. Then, determine the quantity of output that generates the maximum total revenue. Use the purple points (diamond symbol) to
indicate the amount of revenue at this quantity of output.

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