8. Problems and Applications Q8 Henry Potter owns the only well in town that produces clean drinking water. He faces the following demand, marginal revenue, and marginal cost curves: Demand: P=70-Q Marginal Revenue: MR = 70-20 Marginal Cost: MC = 10 + Q On the following graph, use the blue line (circle symbol) to graph Mr. Potter's demand curve. Then, use the black line (cross symbol) to graph his marginal revenue (MR) curve. Next, use the orange line (square symbol) to graph his marginal cost (MC) curve. Finally, use the grey point (star 80 75 00 50 40 30 20 10 8.10 -20 -30 40 40 40 -70 -40 0 10 20 40 Quantity (Units) 60 00 70 -o Demand MR -P MC 0 Proft-Maximization ?

Decrease/increase

t of curvenc ce of cure.. mce of curre ce of curre ence of c ck cyk ocurrency of currency... my risk recap to search KNOWLEDGE CHECK On June 23, 2016, the United Kingdom voted to leave the European Union. The white line shows the U.K.'s main equity index, the FTSE 100, from the start of 2016 to the date on which the U.K. government notified the European Union of its intent to leave. The orange line shows the number of dollars it takes to buy one pound sterling. The United Kingdom is a net importer, meaning the value of imports exceeds the value of exports. What can be reasonably surmised from the chart about large U.K. corporations? Click to open/close chart. They are probably heavy exporters. They are probably heavy importers. Their CEOs probably voted to leave the E.U. Their CEOs probably voted to remain in the E.U.

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25 00:53:53 2000 Expenditures 1500 1000 500 500 1000 Disposable Income When disposable income is 1,000, I is Multiple Choice O 100 200 1500 2000 ann