What is the relation between the marginal revenue amd the average revenue? a. the marginal revenue is higher than the average revenue. b.the two are unrelated. c.the marginal revenue is lower than the average revenue. d.the marginal revenue curve is below the average revenue curve until the point where revenue are maximised and then it is above it

5. Suppose that the price elasticity of the demand is 0.76. If we increase the price ofthe the demanded product, how would this affect the revenue? Explain

D) What is total cost at the profit-maximizing quantity? E) What is the profit at the profit-maximizing quantity? F) What is total variable cost at the profit-maximizing quantity?

Problem The average of price of Guess bag is 45 KD, the average price of Louis Vuiton bag is 2500KD. Use the Supply and Demand to Analyze why the price of these two bags are different.

7. Herb sells apples from his family's farm at the Farmer's Market on the weekends. His revenue is affected by the price that he charges per dozen of apples. Use the graph to estimate the revenue at $1.00/dozen and $2.00/dozen. Apple Sales R 1000 800 600 400 200 |1.00 2.00 3.00 4.00 P Price per Dozen Apples ($) a. $425 and $450 b. $425 and $800 c. $800 and $425 d. $800 and $800 UOor If it is worth $934 now, Revenue ($)

In the short run, the price elasticity of supply for beets is 0.3. In the long run, the price elasticity of supply changes to 1.2. Demand changes and causes the price of beets to increase by 20 percent. The quantity will then increase by A. 0.67% in the short run and 0.17% in the long run. B. 3% in the short run and 1.2% in the long run. C. 6% in the short run and 24% in the long run. D. 66.7% in the short run and 16.7% in the long run.

Multiple Choice question if in the short run the demand for transit by train is inelastic and in the long run the demand is elastic, then a price:  a.increase will increase total revenue in the short run but decrease total revenue in the long run.    b.decrease will decrease total revenue in the short run and decrease total revenue in the long run.    c. increase will decrease total revenue in the short run but increase total revenue in the long run.    d.decrease will increase total revenue in the short run but decrease total revenue in the long run.

Answer the question in the image below

1) What is total cost at the profit-maximizing quantity? 2) What is the profit at the profit-maximizing quantity? 3) What is total variable cost at the profit-maximizing quantity?

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