36 40 2000 1800 1600 1400 1200 1000 800 600 400 200 0 TOTAL REVENUE (Dollars) QUANTITY (Number of units) Calculate the total revenue if the firm produces 8 versus 7 units. Then, calculate the marginal revenue of the eighth unit produced. The marginal revenue of the eighth unit produced is Calculate the total revenue if the firm produces 16 versus 15 units. Then, calculate the marginal revenue of the 16th unit produced. The marginal revenue of the 16th 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 40.) Marginal Revenue 0 4 8 200 160 120 80 40 ཆ ཤ ཤྲཱ ཋ ཟླ ཨྰ # ༞ བྷྲ ༔ བྷྲ ཐྰ ྴ。 ྴ 12 16 20 24 28 32 36 40 0 -40 MARGINAL REVENUE (Dollars) QUANTITY (Units) Comparing your total - revenue graph to your marginal - revenue graph, you can see that total revenue is at the output at which marginal revenue is equal to zero. 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. 0 4 8 12 16 20 24 28 32 36 40 200 180 160 140 120 100 80 60 40 20 0 PRICE (Dollars per unit) QUANTITY (Units) Demand Graph Input Tool Market for Goods Quantity Demanded (Units) 20 Demand Price (Dollars per unit) 100.00 On the previous graph, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 8, 16, 20, 24, 32, or 40 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 0 4 8 12 16 20 24 28 32

The following graph illustrates the weekly demand curve for motorized scooters in Moline. 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. PRICE (Dollars per scooter) 195 180 165 150 135 120 105 90 75 60 45 30 15 0 + + 0 3 6 9 A B Demand ++ 12 15 18 21 24 27 30 QUANTITY (Scooters) 33 36 39 22 Total Revenue ?

The following graph shows the daily demand curve for bippitybops in Detroit. 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. PRICE (Dollars per bippitybop) OTAL REVENUE (Dollars) 2400 1600 100 90 1200 80 1000 70 800 60 50 40 30 20 2200 + 10 2000 + 1800 + 0 1400 + Calculate the daily total revenue when the market price is $90, $80, $70, $60, $50, $40, $30, and $20 per bippitybop. Then, use the green point (triangle symbol) to plot the daily total revenue against quantity corresponding to these market prices on the following graph. (?) 0 ** B Demand 80 10 20 30 40 50 60 70 QUANTITY (Bippitybops per day) 90 100 Total Revenue A ? Total Revenue

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G, 12  Economics

6. Elasticity and total revenue I The following graph shows the daily demand curve for bippitybops in Vancouver. On the following graph, use the green rectangle (triangle symbols) to shade the area representing total revenue at various prices along the demand curve. Notice that when you click on the rectangle, the area is displayed. Note: You will not be scored on any changes made to this graph. PRICE (Dollars per bippitybop) 240 220 200 180 160 140 120 100 80 60 40 20 0 0 6 12 ** + 48 B 18 24 30 36 QUANTITY (Bippitybops per day) Demand 54 80 72 Total Revenue ?

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Aruna owns Pottery Plus, a small firm that produces terra cotta pots for sale in the Edmonton area. The graph below shows Aruna's demand curve. Price ($) 40 36 32 28 24 20 16 12 8 4 8 12 16 20 24 28 32 36 40 Quantity per period Search 3 of 6 SAMSUNG Next > 4