Question

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 $7.5

0 0
Add a comment Improve this question Transcribed image text
Answer #1

I MR 17 Quanhly Porce (d) TR 7.50 7.50 12 14 J3 6.50 19.50 24 5.50 27.50 5 30 (14-7.50 -6.50 19.50-14) = 5.50 (24-19.50) = 4.DELIA PONO o Porce (1 Quanhly (2) Price effect - I AP free effect = (4) (6-6.50) Price effect = (4) (-0.50) force effect = -2

Add a comment
Know the answer?
Add Answer to:
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...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • 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...

  • 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 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:...

  • 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

  • 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...

  • Price per Unit Total Revenue (dollars) Marginal Revenue (dollars) $85 80 75 Quantity Demanded (units) 10...

    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...

  • Question 1 (3 points) Note: It is best to fill out the full table, even if...

    Question 1 (3 points) Note: It is best to fill out the full table, even if the question doesnt ask for it. It never hurts to practice filling these out. Price per Unit Total Revenue (dollars) Quantity Demanded (units) 10 Marginal Revenue (dollars) Total Cost of Marginal Cost Production (dollars) (dollars) $530 540 II 550 560 575 595 625 15 16 55 1. What is the firm's profit-maximizing output? What is the price charged to sell this output? Calculate ATC...

  • Question 3-4 SESSION 13 The marginal revenue is the rate of change in total revenue per...

    Question 3-4 SESSION 13 The marginal revenue is the rate of change in total revenue per unit increase in output, Q The marginal cost is the rate of change in total cost per unit increase in output, Q AR is defined as average revenue per unit for the first Q su ccessive units sold. AR is determined by dividing total reven ue by the quantity sold, Q The AR function is equal to price, P. where Pis given by the...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT