3 Refer To The Figure And Table To Answer Three Questions 18 16 14 Price Marginal Revenue 12 10 Price Or Cost Dolla 1 (48.65 KiB) Viewed 14 times
3 Refer To The Figure And Table To Answer Three Questions 18 16 14 Price Marginal Revenue 12 10 Price Or Cost Dolla 2 (30.25 KiB) Viewed 14 times
3- Refer to the figure and table to answer three questions. 18 16 14 Price - Marginal revenue 12 10 Price or Cost (dollars per bushel) 1 2 3 4 8 6 1 2 0 1 Number of Bushels (per Day) 10 2 3 Price $13 13 13 13 13 13 4 Quantity (bushels of fish per day) Marginal cost $0 13 26 39 52 65 5 6 a. Profit maximizing output with price at $13. Total Revenue Total Cost Total Profit $10 $-10 15 -2 22 4 31 44 7 61 Please enter your responses as whole numbers only. No decimals or $signs. Please determine the: 18 18 4 b. Total revenue with price at $13 at the profit maximizing output. bushels Marginal Revenue -- $13 13 13 13 13 Marginal Cost $5 7 9 13 17
Please enter your responses as whole numbers only. No decimals or $signs. Please determine the: a. Profit maximizing output with price at $13. b. Total revenue with price at $13 at the profit maximizing output. c. Total cost with price at $13 at the profit maximizing output. d. Total profit with price at $13 at the profit maximizing output. e. Profit per unit with price at $13 at the profit maximizing output. bushels
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