Mario's Pizza is the only pizza place in Sorrento City. The graph shows the market demand curve for pizza in Sorrento City. Mario's Pizza is a perfect price discriminator. What is the marginal revenue from the 20th pizza sold in an hour? The marginal revenue from the 20th pizza sold in an hour is O A. $300 OB. -$4 O C. $16 OD. $15 40 35- 30- 25- 20- 15- 10- 5 0- 0 Price (dollars per pizza) 5 10 15 20 25 30 Quantity (pizzas per hour) D 35 40

3. The effects of price changes on total revenue Edison's Fire Engines is the sole seller of fire engines in the fictional country of Pyrotania. Initially, Edison produced four fire engines, but he has decided to increase production to five fire engines. The following graph shows the demand curve Edison faces. As you can see, to sell the additional engine, Edison must lower his price from $105,000 to $90,000 per fire engine. Note that while Edison gains revenue from the additional engine he sells, he also loses revenue from the initial four engines because he sells them all at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial four engines by selling at $90,000 rather than $105,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $90,000. (Note: Area is shown in thousands.) ICE (Thousands of dollars per fire engine). 150 135…

The following data shows the market for soccer balls: Price ($) 0 Demand 120 Supply |0 10 110 20 20 100 40 Select one: O A. $40 and 120. B. $10 and 110. OC. $60 and 110. O D. $50 and 50. OE. $30 and 100. 30 90 60 40 80 80 50 60 70 70 60 50 100 120 140 Refer to the above information to answer this question. Assume that initially the market is in equilibrium, and the demand increases by 10 units while the supply increases by 40 units. What will be the new equilibrium price and quantity?

Use the following graph to answer the question below. Price a.. PA P₂ P₁ A 0 B C D m O F O Multiple Choice H G 1 Q₂ Q3 Quantity Demanded If the price increases from P, to P2, then the total revenue will gain areas J Demand B+E, but it will lose areas H+1+J. C+F+H, but it will lose area J. E+F+G, but it will lose area J A+B+C, but it will lose areas G+1+J.

When the West Coast Surfboard Company lowered the price of surfboards by 10 percent, it sold 20 percent more surfboards. What is the price elasticity coefficient for surfboards? 0.5 1 O 20

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using the purple points (diamond symbol). Finally, plot the market demand for scented candles Using the blue points( Note: Line segments will automatically connect the points. Remember to plot from left to right. 12 10 Nick's Demand Rosa's Demand Market Demand 18 24 32 40 QUANTITY (Candles) PRICE (Dollars per candle)

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Dani sells roses in a competitive market where the price of a rose is $7. Use this information fill out the missing entries as indicated by letters X, Y and Z in the revenue columns in the table below. Instructions: Enter your answers as whole numbers. Quantity of Roses 11 3 4 LO 5 0000 X= 14; Y =7; Z =7 X= 7; Y =21; Z =7 X= 14; Y =7; Z=35 X= 14; Y = 21; Z =7 Total Revenue $7 $X $ EA EA Average Revenue $7 GA GA GA GA $ Y $7 Marginal Revenue $7 SASA $ GAGA $Z