From the given graph , we can get the demand curve equation:
Q = 6000- 100P
We can see that when P=0, Qd= 6000
And when Q=0, P= 60
Now, TR = P(Q)
Q = 6000- 100P
So, P = (6000- Q)/100
P = 60 - 0.01Q
TR = P(Q)
TR = (60- 0.01Q) (Q)
TR = 60Q - 0.01Q2
MR = dTR/dQ = 60 - 0.02Q
Hence,option(C) is correct.
Refer to the graph below: Price (Dollars) 6.000 Quantity The equation for marginal revenue is OMR...
Refer to the graph below: Price (Dollars) 6,000 Quantity The equation for demand is O Q=6,000 - 60P O Q = 60 -0.01P. O P=60 -0.010 O P=6,000 - 600
Refer to the graph below: Price (Dollars) 6,000 Quantity Marginal revenue is zero at Q= 0 1,00 units O O 3,000 units 6,000 units 2,000 units
Refer to the graph below: Price (Dollars) 6,000 Quantity Demand is unitary elastic at P = $_ ооооо
Refer to the following graph to answer the following questions: Price, Costs, and Revenue (Dollars) 0 200 400 600 800 1,000 Quantity of Output (Units per Day) In the long run, the demand curve for the monopolistically competitive firm would shift leftward. remain the same, causing the entry of new.firms to be impossible. O shift rightward. move closer to the marginal revenue curve, but the marginal revenue curve would be held constant. Oshift rightward, causing the entry of new firms...
Price and marginal revenue (dollars per bottle) The graph shows Minnie's demand curve and marginal revenue curve. At what price is Minnie's total revenue maximized and over what price range is the demand for water elastic? Why will Minnie not produce a quantity at which the market demand is inelastic? a Minnie's total revenue is maximized at a price of $ bottle. 56 The demand for water from Minnie's is elastic between the prices of a bottle. O A. zero...
Price per Unit Total Revenue (dollars) Marginal Revenue (dollars) $85 80 75 Quantity Demanded (units) 10 11 12 Total Cost of Marginal Cost Production (dollars) (dollars) $530 540 550 560 15 16 . • • Fill out the rest of the table. What is the firm's profit maximizing output and what is the price charged to sell this output? • Calculate ATC at the profit maximizing quantity. • When producing the profit maximizing output, what is the amount of the...
Graph A Graph B Price . (dollars) P Price (dollars) N: D HT Quantity (units per time period) Quantity (units per time period) Graph C Graph D P1-11 Price (dollars) Price (dollars) - --- QQ Quantity (units per time period) Q Q Quantity (units per time period) 5) Refer to the above diagrams. Which of the graphs depicts the effect of a decrease in the price of domestic cars on the demand for foreign cars? A) Graph D. B) Graph...
COSTS REVENUES Quantity Produced Total Cost Marginal Cost Quantity Demanded Price Total Revenue Marginal Revenue 0 $50.00 -- 0 $60 -- 1 $75.00 1 $60 2 $101.00 2 $60 3 $128.50 3 $60 4 $158.50 4 $60 5 $192.50 5 $60 6 $232.50 6 $60 7 $281.00 7 $60 8 $341.00 8 $60 Refer to Table 14-13. What is the economic profit at the profit maximizing point for this firm? a. $187.50 b. $139 c. $39 d. $121.50
Refer to the table below. Quantity Cost (in dollars) Fixed Costs (in dollars) Total Costs (in dollars) Average Total Costs (in dollars per unit) Average Variable Costs (in dollars per unit) Marginal Costs (in dollars per unit) 0 0 40 40 - - - - - - 1 1 40 55 15 55 15 2 35 40 75 17.5 37.5 20 3 60 40 100 20 33.3 25 4 90 40 130 22.5 32.5 30 5 125 40 155...
Marginal cost 14 Price = Marginal revenue Price or Cost(dollars per bushel) Quantity (bushels of fish per day) Number of Bushels per Day Price Total Revenue Total Cost Total Profit Marginal Marginal Revenue Cost $13 $10 $-10 15 $13 31 44 61 If the price of catfish changed from $13 to $14 per bushel, determine the Instructions: in parts a and c, enter your responses as a whole number. In part b.round your response to two decimal places. If you...