TOTAL REVENUE (Dollars) 1504 1316 1128 940 10 15 20 25 30 35 40 45 50 QUANTITY OF OUTPUT (Number of units) Total Revenue 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 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. (Round all values to the nearest increment of 30.) MARGINAL REVENUE (Dolars) 8 B R 10 15 20 QUANTITY OF OUTPUT (Units) Marginal Revenue Comparing your total revenue graph to your marginal revenue graph, you can see that total revenue is marginal revenue is equal to zero. maximized minimized equal to zero at the output at which 2. Calculating marginal revenue from a linear demand curve The blue curve on the following graph represents the demand curve facing a firm that can set its own prices. 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. PRICE (Dollars per unit) ༞ ྃ༔ སྠཽ ྴ་ཤྲཱ་སྒྲ་རྩྭ་སྐ་ ེ བ 150 135 120 105 Demand 0 5 10 15 20 25 30 35 45 50 QUANTITY (Units) Graph Input Tool Market for Goods Quantity Demanded (Units) 25 Demand Price (Dollars per unit) 75.00 On the previous graph, 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, or 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. TOTAL REVENUE (Dollars) 1880 1852 1504 1316 1128 940 752 564 378 188 + 0 0 5 10 15 20 25 30 35 40 45 50 QUANTITY OF OUTPUT (Number of units) A Total Revenue 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 S

TOTAL REVENUE (Dollars) 1504 1316 1128 940 10 15 20 25 30 35 40 45 50 QUANTITY OF OUTPUT (Number of units) Total Revenue 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 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. (Round all values to the nearest increment of 30.) MARGINAL REVENUE (Dolars) 8 B R 10 15 20 QUANTITY OF OUTPUT (Units) Marginal Revenue Comparing your total revenue graph to your marginal revenue graph, you can see that total revenue is marginal revenue is equal to zero. maximized minimized equal to zero at the output at which 2. Calculating marginal revenue from a linear demand curve The blue curve on the following graph represents the demand curve facing a firm that can set its own prices. 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. PRICE (Dollars per unit) ༞ ྃ༔ སྠཽ ྴ་ཤྲཱ་སྒྲ་རྩྭ་སྐ་ ེ བ 150 135 120 105 Demand 0 5 10 15 20 25 30 35 45 50 QUANTITY (Units) Graph Input Tool Market for Goods Quantity Demanded (Units) 25 Demand Price (Dollars per unit) 75.00 On the previous graph, 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, or 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. TOTAL REVENUE (Dollars) 1880 1852 1504 1316 1128 940 752 564 378 188 + 0 0 5 10 15 20 25 30 35 40 45 50 QUANTITY OF OUTPUT (Number of units) A Total Revenue 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 S

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter8: Monopoly

Section8.4: Comparing Monopoly And Perfect Competition

Problem 1YTE

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