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 folowing questions. You will not be graded on any changes you make this graph. Note: Once you enter a value in a white fleld, the graph and any corresponding amounts in each grey fleld will change accordingly. Graph Input Tool Market for Goods 200 180 Quantity Demanded 20 160 (Units) I 140 Demand Price (Dollars per unit) 100.00 * 120 100 80 60 Demand 40 20 4 8 12 16 20 24 28 32 36 40 QUANTITY (Units) On the graph input tool, 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, and 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. (? 2000 1800 Total Revenue 1600 1400 1200 1000 800 600 400 200 4 12 16 20 24 28 32 36 40 QUANTITY (Number of units) Calculate the total revenue ir 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 s 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 ine, use the black Nne (plus symbol) to plot the firm's marginal revenue curve on the following graph. (Round all values to the nearest increment of 40.) 200 160 Marginal Revenue 120 B0 40 40 12 16 20 QUANTITY (Units) 4 24 28 32 36 40 Comparing your total revenue graph to your marginal revenue graph, you can see that when total revenue is decreasing, marginal revenue is TOTAL REVENUE (Dollars)

Mark is currently earning $44,000 a year. He has worked for this firm for 5 years. He is considering a job that will increase his lifetime earnings by $240,000 but that requires a Ph.D. in finance. The job will mean also attending a full-time finance program for four years at an annual cost of $28,500. Mark already completed an MBA, for which he spent $86,000 in tuition and books. Would he take the job and attend the Ph.D. program? Calculate:   Insutructions: Use ono decimals. Use commas (30,000, not 30000). Opportunity costs of this decision = $ MC = $ MB = $ Sunk Costs = $

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How do economic engineers make typical personal decisions?

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why is visual content important?