The graph below plots the firm's total revenue curve: that is, the relationship between quantity and total revenue given by the two righe columns in the table above. The five choices are also labeled. Finally, two black lines are showm; these lines are tangent to the green curve at points B and D .
Homework Answers
Slope of TR at various points is the marginal Revenue.
| Q | TR | MR= (change in TR/Change in Q) |
| 0 | 0 | - |
| 100 | 54,000 | 540 |
| 200 | 7200 | 180 |
| 300 | 54000 | -180 |
| 400 | 0 | -540 |
By plotting MR ,we get the graph as shown below : MR is plotted is corresponding to middle of the quantities:
The total revenue reaches its maximum at a quantity of 200 dishwashers per year. At this point, the slope of the total revenue curve is equal to zero. (as shown in the table and above graph).
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The graph below plots the firm's total revenue curve: that is, the relationship between quantity
The graph below plots the firm's total revenue curve:
The graph below plots the firm's total revenue curve: that is, the relationship between quantity and total revenue given by the two right columns in the table above. The five choices are also labeled. Finally, two black lines are shown; these lines are tangent to the green curve at points B and D.
Using the information on the slope of the lines tangent to the total revenue curve at points B and D, plot the slope of the total revenue curve on the graph below.
This problem gives you a preview of something you might see in a microeconomics class. Suppose there's an appliance store that sells air conditioners. It could set its price high and sell very few air conditioners, or it could set its price low and sell many more air conditioners. The following table shows some possible choices this store could make:The graph below plots the firm's "total revenue" curve: that is, the relationship between quantity and total revenue given by the...
The total revenue curve reaches its maximum at a quantity of(200, 100, 300, 400) air...
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Refresh Your Math&Graphing Skills ollewing ta ole shows some possible choices this store could make Quantity...
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13.Total revenue is a firm's: A) ratio of revenue to quantity. B) difference between revenue and...
13.Total revenue is a firm's: A) ratio of revenue to quantity. B) difference between revenue and cost. C) total output times the price at which it sells that output. D) change in revenue resulting from a unit change in output. 14. The slope of the total cost curve is: A) marginal revenue. B) constant under perfect competition. C) always negative. D) marginal cost
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The graph below plots the firm's total revenue curve: that is, the relationship between quantity and total revenue given by the two right columns in the table above. The five choices are also labeled. Finally, two black lines are shown; these lines are tangent to the green curve at points B and D.
The total revenue curve reaches its maximum at a quantity of(200, 100, 300, 400) air conditioners per year. At
this point, the slope of the total revenue curve is(negative, equal to zero, at it's maximium, positive, at
it's minimum)This problem gives you a preview of something you might see in a microeconomics class. Suppose there's an appliance store that sells air conditioners. It could set its price high and sell very few air conditioners, or it could set its price...
Quantity (Air conditioners per year) Total Revenue (P xQ) so 36,000 $48,000 $36,000 so Choice (Dollars per air conditioner) $450 160 The graph belaw plots the firm's "total revenue" curve: that is, the relationship between quantity and total revenue given by the two right columns in the table above. The five choices are also labelled. Finally, two black lines are shown; these lines are tangent to the green curve at ports B and D. TOTAL REVENUE 0 4 0 120...
Refresh Your Math&Graphing Skills ollewing ta ole shows some possible choices this store could make Quantity (Air conditioners per year) Total Revenue (Px Q) (Dollars per year) Price (Dollars per air conditioner) 400 300 200 100 100 30,000 40,000 30,000 200 400 ph below plots the fem's total revenue curve: that is, the relationship between quantiy and total revenue given by the two right n the table above. The five choices are also labeled. Finally, two black lines are shown;...
5. The variation in elasticity and total revenue along a demand curve The following graph shows the daily demand curve for bippitybops in New York City. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. 100 Total Revenue 80 O 70 2 60 Q 50 T O 40 30 20 10 Demand 0 6 12 18 24 30 36...
9. Elasticity and total revenue The following graph shows the demand curve for kumquats. Points A, B, C, and D mark price ranges over which you will be asked to calculate the price elasticity of demand for this good. Use the purple rectangle labeled Total Revenue (diamond symbols) to compute total revenue at various prices along the demand curve. To see the area of the Total Revenue rectangle, select the shaded area with your mouse. You will not be graded...
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