Homework Answers
Quantity Price (dollars) $7.50 7.00 6.50 6.00 5.50 5.00 Total Revenue Marginal (dollars) Revenue $7.50 7.50 14.00 1...
Quantity Price (dollars) $7.50 7.00 6.50 6.00 5.50 5.00 Total Revenue Marginal (dollars) Revenue $7.50 7.50 14.00 19.50 15.50 24.00 4,50 27.50 3.50 30.00, 2.50 a. Fill the rest of the marginal revenue column (0.5 point) b. Draw the demand curve and label the axes for quantities 3 and 4 and the related prices. (ust like I showed you in class) (1 point) c. Calculate the price effect when quantity increases from 3 to 4 units. Be careful about the...
Quantity Price (dollars) $7.50 7.00 6.50 Total Revenue Marginal (dollars) Revenue $7.50 7.50 14.00 16.50 19.50...
Quantity Price (dollars) $7.50 7.00 6.50 Total Revenue Marginal (dollars) Revenue $7.50 7.50 14.00 16.50 19.50 3.50 24.00 4,50 27.50 30.00 2.50 6.00 5.50 3,50 5.00 2. Fill the rest of the marginal revenue column (0.5 point) b. Draw the demand curve and label the axes for quantities 3 and 4 and the related prices. (just like I showed you in class) (1 point) equation o 70 DO 2 C20 +Q=16/p-Pi = P2 -P P=7,50 P2= Q-6, Q2-Q, Q1=1 Qa:...
Table 7.3 Farmer Jones' profits from oats farming QUANTITY (BUSHELS) TOTAL REVENUE (TR) TOTAL COST (TC)...
Table 7.3 Farmer Jones' profits from oats farming QUANTITY (BUSHELS) TOTAL REVENUE (TR) TOTAL COST (TC) PROFIT (TR- TC) MARGINAL REVENUE (MR) MARGINAL COST (MC) $0.00 $1.00 -$1.00 4.00 4.00 0.00 $4.00 $3.00 8.00 6.00 2.00 4.00 2.00 12.00 7.50 4.50 4.00 1.50 16.00 9.50 6.50 4.00 2.00 20.00 12.00 8.00 4.00 2.50 24.00 15.00 9.00 4.00 3.00 28.00 19.50 8.50 4.00 4.50 32.00 25.50 6.50 4.00 6.00 36.00 32.50 3.50 4.00 7.00 40.00 40.50 -0.50 4.00 8.00 2.8 In...
Question 1 (3.5 points) Quantity Price (dollars) $7.50 7.00 6.50 6.00 5.50 5.00 Total Revenue Marginal (dollars) Revenu...
Question 1 (3.5 points) Quantity Price (dollars) $7.50 7.00 6.50 6.00 5.50 5.00 Total Revenue Marginal (dollars) Revenue $7.50 7.50 14.00 19.50 24.00 27.50 30.00 b. Draw the demand curve and label uue axes for quantities 3 and 4 and the related prices. Just like I showed you in class) (1 point) C. Calculate the price effect when quantity increases from 3 to 4 units. Be careful about the signs on these numbers (0.5 point) d. Calculate the quantity effect...
Output Price (Suits per Total Total Cleaned) Suit ($) Costs ($) Revenue ($) MC ($) MR...
Output Price (Suits per Total Total Cleaned) Suit ($) Costs ($) Revenue ($) MC ($) MR ($) 8.00 3.00 7.50 6.00 1.50 7.00 8.50 6.50 10.50 19.50 0.00 2 3 4 14.00 6.00 11.50 24.00 □ □ 5.50 13.50 27.50 5.00 16.00 30.00 4.50 19.0031.50 4.00 24.00 8 32.00
Draw this firm graph and include Demand curve, MC curve, MR curve and ATC curve. show...
Draw this firm graph and include Demand curve, MC curve, MR
curve and ATC curve.
show the firms profit
4. The following chart depicts the revenues and costs for a firm in monopolistic competition. MCAT ATCTS Profit te 9 20 Quantity Price TR 0 100 9.50 9.50 18 8.50 25.50 4 18 3 2 7.50 37.50 7 42 6.50 45.50 - 48 5.50 49,50 10 5 50 11 4 .50 49.50 MR ATR TTC - 6 9.50 8 8.50 8.50...
Output Price Marginal Cost 100 7.50 0.50 200 7 1.50 300 6.50 2.50 400 6 3.50...
Output Price Marginal Cost 100 7.50 0.50 200 7 1.50 300 6.50 2.50 400 6 3.50 500 5.50 5.50 600 5 6.50 Please consider the above data for a monopolist. At which output level does the monopolist maximize its profits (or minimize its losses)? At an output of 500 At an output of 400 At an output of 300 At an output of 200 At an output of 600 Part b: Output Price TR MR...
This question: 1 4 3 of 10 (1 completej > This Quiz: 10 Refer to the...
This question: 1 4 3 of 10 (1 completej > This Quiz: 10 Refer to the table to the right. What portion of the marginal revenues of the 4th unit is due to the output effect and what portion is due to the price effect? (Dollars) $7.00 Total Revenue (Dollars) OA Output effect - $6.50; Price effect $2.00 O B. Output effect $24.00; Price effect = $19.50 OC. Output effect $8.00; Price effect - $1.50 OD Output elect-050 Price et...
Question 1 (3.5 points) Marginal Revenue 7.50 Total Revenue (dollars) S7.50 14.00 19.50 24.00 Price dollars)...
Question 1 (3.5 points) Marginal Revenue 7.50 Total Revenue (dollars) S7.50 14.00 19.50 24.00 Price dollars) I57.50 Quantity 7.00 3 4 6.50 6.00 27.50 30.00 5.50 5.00 Fill the rest of the marginal revenue column (0.5 point) b. Draw the demand curve and label the axes for quantities 3 and 4 and the related prices. (just like I showed you in class) (1 point) Calculate the price effect when quantity increases from 3 to 4 units. Be careful about the...
Quantity Price (dollars) $7.50 7.00 6.50 6.00 5.50 5.00 Total Revenue Marginal (dollars) Revenue $7.50 7.50 14.00 19.50 15.50 24.00 4,50 27.50 3.50 30.00, 2.50 a. Fill the rest of the marginal revenue column (0.5 point) b. Draw the demand curve and label the axes for quantities 3 and 4 and the related prices. (ust like I showed you in class) (1 point) c. Calculate the price effect when quantity increases from 3 to 4 units. Be careful about the...
Quantity Price (dollars) $7.50 7.00 6.50 Total Revenue Marginal (dollars) Revenue $7.50 7.50 14.00 16.50 19.50 3.50 24.00 4,50 27.50 30.00 2.50 6.00 5.50 3,50 5.00 2. Fill the rest of the marginal revenue column (0.5 point) b. Draw the demand curve and label the axes for quantities 3 and 4 and the related prices. (just like I showed you in class) (1 point) equation o 70 DO 2 C20 +Q=16/p-Pi = P2 -P P=7,50 P2= Q-6, Q2-Q, Q1=1 Qa:...
Table 7.3 Farmer Jones' profits from oats farming QUANTITY (BUSHELS) TOTAL REVENUE (TR) TOTAL COST (TC) PROFIT (TR- TC) MARGINAL REVENUE (MR) MARGINAL COST (MC) $0.00 $1.00 -$1.00 4.00 4.00 0.00 $4.00 $3.00 8.00 6.00 2.00 4.00 2.00 12.00 7.50 4.50 4.00 1.50 16.00 9.50 6.50 4.00 2.00 20.00 12.00 8.00 4.00 2.50 24.00 15.00 9.00 4.00 3.00 28.00 19.50 8.50 4.00 4.50 32.00 25.50 6.50 4.00 6.00 36.00 32.50 3.50 4.00 7.00 40.00 40.50 -0.50 4.00 8.00 2.8 In...
Question 1 (3.5 points) Quantity Price (dollars) $7.50 7.00 6.50 6.00 5.50 5.00 Total Revenue Marginal (dollars) Revenue $7.50 7.50 14.00 19.50 24.00 27.50 30.00 b. Draw the demand curve and label uue axes for quantities 3 and 4 and the related prices. Just like I showed you in class) (1 point) C. Calculate the price effect when quantity increases from 3 to 4 units. Be careful about the signs on these numbers (0.5 point) d. Calculate the quantity effect...
Output Price (Suits per Total Total Cleaned) Suit ($) Costs ($) Revenue ($) MC ($) MR ($) 8.00 3.00 7.50 6.00 1.50 7.00 8.50 6.50 10.50 19.50 0.00 2 3 4 14.00 6.00 11.50 24.00 □ □ 5.50 13.50 27.50 5.00 16.00 30.00 4.50 19.0031.50 4.00 24.00 8 32.00
Draw this firm graph and include Demand curve, MC curve, MR
curve and ATC curve.
show the firms profit
4. The following chart depicts the revenues and costs for a firm in monopolistic competition. MCAT ATCTS Profit te 9 20 Quantity Price TR 0 100 9.50 9.50 18 8.50 25.50 4 18 3 2 7.50 37.50 7 42 6.50 45.50 - 48 5.50 49,50 10 5 50 11 4 .50 49.50 MR ATR TTC - 6 9.50 8 8.50 8.50...
This question: 1 4 3 of 10 (1 completej > This Quiz: 10 Refer to the table to the right. What portion of the marginal revenues of the 4th unit is due to the output effect and what portion is due to the price effect? (Dollars) $7.00 Total Revenue (Dollars) OA Output effect - $6.50; Price effect $2.00 O B. Output effect $24.00; Price effect = $19.50 OC. Output effect $8.00; Price effect - $1.50 OD Output elect-050 Price et...
Question 1 (3.5 points) Marginal Revenue 7.50 Total Revenue (dollars) S7.50 14.00 19.50 24.00 Price dollars) I57.50 Quantity 7.00 3 4 6.50 6.00 27.50 30.00 5.50 5.00 Fill the rest of the marginal revenue column (0.5 point) b. Draw the demand curve and label the axes for quantities 3 and 4 and the related prices. (just like I showed you in class) (1 point) Calculate the price effect when quantity increases from 3 to 4 units. Be careful about the...
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