2. Calculating marginal revenue from a linear demand curve The blue curve on the following graph represents the demand c

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2 Calculating Marginal Revenue From A Linear Demand Curve The Blue Curve On The Following Graph Represents The Demand C 1 (59.87 KiB) Viewed 17 times

2 Calculating Marginal Revenue From A Linear Demand Curve The Blue Curve On The Following Graph Represents The Demand C 2 (54.42 KiB) Viewed 17 times

2 Calculating Marginal Revenue From A Linear Demand Curve The Blue Curve On The Following Graph Represents The Demand C 3 (29.24 KiB) Viewed 17 times

2 Calculating Marginal Revenue From A Linear Demand Curve The Blue Curve On The Following Graph Represents The Demand C 4 (22.08 KiB) Viewed 17 times

2. Calculating marginal revenue from a linear demand curve The blue curve on the following graph represents the demand curve facing a firm that can set its own prices. Use the graph input tool to help you answer the following questions. You will not be praded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool 2 200 Market for Goods 180 20 150 Quantity Demanded (Units) Demand Price (Dollars per unit) 140 100.00 120 100 PRICE (Dolars per unit o 8 68 5 Demand 40 0 4 • 2 16 20 24 20 23 30 40 QUANTITY (Units) On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production or o 16, 20, 24, 32, and 40 units of output Calculate the total revenue for each of these production levels. Then, on the following graph, use the gree points (triangle symbol) to plot the results, 2000

On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production oro, 8, 16, 20, 24, 32, and 40 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. Is 2 2000 1000 A 1000 Total Revenue 1600 1200 TOTAL REVENUE Dolars) 1000 500 000 400 200 12 16 20 24 20 QUANTITY (Number of units) 30 40 Calculate the total revenue if the firm produces 8 versus 7 units. Then, calculate the marginal revenue of the eighth unit produced. The marginal revenue of the eighth unit produced is 5 Calculate the total revenue if the firm produces 16 versus 15 s. Then, calculate the marginal revenue of the 16th unit produced The marginal revenue of the 16th unit produced iss Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (plus symbol) to plot the firm's marginal revenue curve on the following graph (Round all values to the nearest increment of 40.)

Homework (Ch 15) QUANTITY (Number of units Calculate the total revenue of the form produces & versus 7 units. Then, calculate the marginal revenge of the eighth unit produced The marginal revenue of the eighth unit produced is Calculate the total revenue the firm produces 16 versus 15 units. Then, calculate the marginal revenue of the 16th unt produced The marginal revenue of the 10th unit produced is Based on your answers from the previous question, and assuming that the marginal revenue curve a straight line, use the blackline (plus symbol to plot the firm's marginal revenue curve on the following graph. (Round all values to the newest increment of 40.)

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