a. Draw the marginal revenue curve. Plot only the endpoints of the graph below.210180Costs and revenues@ ° ° ū150120010 20 30 40 50 60 70 80 90100 1020130140Quantity per periodDMCToolsmarginal rever b. What are the values of the profit-maximizing output and price?Output:Price: $c. What are the values of output, price and total revenue when the firm's total revenue is maximized?OutputPrice: $Total revenue: $PrevSearch2 of 11 wwwwwwSAMSUNGNext >

A profit-maximizing firm produces at the intersection of MR and MC to maximize profit. Total…

Answered: a. Draw the marginal revenue curve.…

a. Draw the marginal revenue curve. Plot only the endpoints of the graph below. and revenues 210 180 150 120 D MC Tools marginal rever

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

a. Draw the marginal revenue curve. Plot only the endpoints of the graph below.
210
180
Costs and revenues
@ ° ° ū
150
120
0
10 20 30 40 50 60 70 80 90100 1020130140
Quantity per period
D
MC
Tools
marginal rever
<Prev
2 of 11 NAM
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b. What are the values of the profit-maximizing output and price?
Output:
Price: $
c. What are the values of output, price and total revenue when the firm's total revenue is maximized?
Output
Price: $
Total revenue: $
Prev
Search
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