Calculate the total revenue if the firm produces 10 versus 9 units. Then, calculate the marginal revenue of the 10th unit produced. The marginal revenue of the 10th unit produced is________.   Calculate the total revenue if the firm produces 20 versus 19 units. Then, calculate the marginal revenue of the

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Calculate the total revenue if the firm produces 10 versus 9 units. Then, calculate the marginal revenue of the 10th unit produced.
The marginal revenue of the 10th unit produced is________.
 
Calculate the total revenue if the firm produces 20 versus 19 units. Then, calculate the marginal revenue of the 20th unit produced.
The marginal revenue of the 20th unit produced is_________.
On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 10,
20, 25, 30, 40, and 50 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green
points (triangle symbol) to plot the results.
1250
1125
Total Revenue
1000
875
750
625
500
375
250
125
10
15
20
25
30
35
40
45
50
QUANTITY (Number of units)
TOTAL REVENUE (Dollars)
LO
Transcribed Image Text:On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 10, 20, 25, 30, 40, and 50 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. 1250 1125 Total Revenue 1000 875 750 625 500 375 250 125 10 15 20 25 30 35 40 45 50 QUANTITY (Number of units) TOTAL REVENUE (Dollars) LO
Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph.
Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly.
Graph Input Tool
Market for Goods
100
90
I Quantity
Demanded
25
80
(Units)
Demand Price
(Dollars per unit)
70
50.00
60
50
40
30
Demand
20
10
10
15
20
25
30
35
40
45
50
QUANTITY (Units)
PRICE (Dollars per unit)
Transcribed Image Text:Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Market for Goods 100 90 I Quantity Demanded 25 80 (Units) Demand Price (Dollars per unit) 70 50.00 60 50 40 30 Demand 20 10 10 15 20 25 30 35 40 45 50 QUANTITY (Units) PRICE (Dollars per unit)
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