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.### Graph Input Tool**Market for Goods**- **Quantity Demanded (Units):** [input box]- **Demand Price (Dollars per unit):** 125.00The graph displays a demand curve with the following axes:- **X-axis (Quantity in Units):** Ranges from 0 to 60- **Y-axis (Price in Dollars per Unit):** Ranges from 0 to 250The demand curve is downward sloping from a high price at low quantity to a lower price at higher quantity. There is a dashed line indicating a price level of $125.### Instructions for Revenue CalculationUse the graph input tool to change the number in the Quantity Demanded field to determine prices corresponding to outputs of 0, 10, 20, 25, 30, 40, and 50 units. Calculate total revenue for each level. Plot the results on the graph below using green points (triangle symbol).### Total Revenue GraphAxes:- **X-axis (Quantity in Number of Units):** Ranges from 0 to 60- **Y-axis (Total Revenue in Dollars):** Ranges from 0 to 3130Use green triangles to plot total revenue based on the entered values from the graph input tool.### Questions1. Calculate total revenue if the firm produces 10 versus 9 units. Find the marginal revenue of the 10th unit produced. - **The marginal revenue of the 10th unit produced is:** [input box]2. Calculate total revenue if the firm produces 20 versus 19 units. Find the marginal revenue of the 20th unit produced. - **The marginal revenue of the 20th unit produced is:** [input box] 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 50.)**Graph Explanation:**- The graph is a coordinate plane illustrating "MARGINAL REVENUE (Dollars)" on the vertical axis and "QUANTITY (Units)" on the horizontal axis.- The vertical axis ranges from -50 to 250, with increments of 50.- The horizontal axis ranges from 0 to 50, with increments of 5.- There is a flat black horizontal line representing "Marginal Revenue" at the 0 level on the graph, indicating constant marginal revenue across different quantities.Comparing your total revenue graph to your marginal revenue graph, you can see that when total revenue is decreasing, marginal revenue is ________.

Quantity Price Revenue 0 250 0 10 200 2000 20 150 3000 25 125 3125 30 100 3000 40 50 2000 50 0 0When 9 units are produced the total revenue = $205 * 9 = $1845 When 10 units are produced the total revenue = $200 * 10 = $2000 Marginal revenue = Change in total revenue / Change in quantity = ( 2000-1845) / ( 10 - 9) = $155 / 1 = $155 Thus the marginal revenue of the 10th unit produced is $155 When 19 units produced , total revenue = $155 * 19 = $2945 When 20 units produced , total revenue = $150 * 20 = $3000 Marginal revenue = Change in total revenue / Change in quantity = ( 3000 - 2945) / ( 20 - 19) = $55 / 1 = $55 Thus the marginal revenue of the 20th unit produced is $55Quantity Price Revenue Marginal Revenue 0 250 0 …. 10 200 2000 200 20 150 3000 50 25 125 3125 25 30 100 3000 -25 40 50 2000 -50 50 0 0 -200