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If the market price were $8, what would be the profit for this firm?
a. 120
b. 180
c. 0
d. $960
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- Price and cost (dollars per student) $150 120 88 76 72 ATC 40 - MC MR 24,000 30,000 36,000 Quantity of students enroiled 15,000 Your college decides to offer a psychology course as a MOOC that can be taken by students anywhere in the world, whether they are actually enrolled in your college or not. The demand and cost situation for the MOOC is shown in the figure. The faculty member who designed the course argues: "I think the course should be priced so that the maximum number of students enroll." Which price should this faculty member favor? O A. $0 В. $40 C. $88 D. $150Activity Frame A 2191 A 1878 1565 n 1252 939 626 0 A + + 0 5 10 TOTAL REVENUE (Dollars) 3130 2817 2504 MARGINAL REVENUE (Dollars) 313 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 $ 250 Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (plus symbol) to plot the firm's marginal revenue curve on the following graph. 225 200 175 150 125 100 75 50 25 0 15 20 25 30 35 40 QUANTITY (Number of units) -25 -50 0 A 45 50 5 10 15 Total Revenue 20 25 30 35 QUANTITY (Units) 40 45 50 Marginal Revenue (?) Comparing your total revenue graph to your marginal revenue graph, you can see that total revenue is…Use the diagrams to answer the following questions. Price and cost 20- 18 16- 14- 12 10 8 6 4 2+ o Market 1 488888 MC NO₂ MR 40 55 an in en nn minn Price and cost 20- 18- 16- 14 12- 10- 8- 6- 4- 2- 0 Market 2 0000000 MC NMR Annnnn in ED ORA on noinn If the firm wants to maximize profits, what price will it charge in Market 1, and what quantity will it sell? The firm will charge a price of $ using integers). Q and will sell a quantity of units. (Enter numeric responses
- Price L M N 0 K MC ATC MR F G Output The profit-maximizing firm will be earning total revenue of OFIN OFJM OFKL OGHM4. Elasticity and total revenue The following graph shows the daily demand curve for bippitybops in Denver. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. 120 110 100 Total Revenue 90 B0 70 50 40 30 20 10 Demand 10 20 30 40 50 70 90 100 110 120 QUANTITY (Bippitybops) PRICE (Dollars per bippitybop)5:37 Price, costs 72 60 48 36 24 12 X 150 450 750 300 0 Quantity per period MR a. What is the profit-maximizing output? Output: b. What price will the firm charge? Price: $ AC 600 900 1050 200¹3501500 MC
- Output Price Total Cost 0 1000 500 1 600 520 2 500 580 3 400 700 4 300 1000 5 200 1500 What is the profit maximizing profit?1- iro % What quantity of output will this profit-maximizing firm choose to sell? units) (Round your response to the nearest whole number) Dellars per Unit 1927 176- 160- 120 112 00 BO 04 10 32 Output MR MC ATC 80 odThe diagram shows the price, marginal cost and average cost curves facing a perfectly competitive firm in the short run. What is the total revenue of the profit maximising firm in the short run? a) R720 b) R800 c) R960 d) R2 000 20 2 Cost, price (Rand) MC I 100 60 80 Output per day AC AVC Price
- student uae.examus.net CONTO1 FEX 2021 2 Male arguS producing a quantity of 20 units. The market price is $17. The firm's variable cost is $60 and its et is $50. What is the firm's total revenue? 15-40 1860 3340. $50. 9500471d7b8 644768 $110. 95d6477b8 95d647fd768 58047fd768 eSc MacBook Pro FI F3 888 F4 $ 5 0 E R T Y .. A を D S G 95d647fdxb8If the price of the good is 0.70$ And the firm is producing 100 units what would the profit be -10 5 15 Or 20ework 71 B Saved Help Save & Exit Subm Assume the price of basic white t-shirts in a perfectly competitive market is $21 and that the typical firm confronts the following costs: Quantity (t-shirts per day) Total Cost 0 $10 1 17 2 26 Print 3 37 4 50 5 65 6 82 7 101 8 122 9 145 10 170 aw Search ^ C