Please help and do all the graphs. I am not understanding the question or what t

Question

Please help and do all the graphs. I am not understanding the question or what to do. :(

The blue curve on the following graph represents the demand curve facing a firm that can set its own prices. Use the araph input tool to help you answer the following questions. You will not be qgraded on any changes you make to this araph. 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 Market for Goods 200 180 160 140 120 100 80 uantit 20 emanded (Units) Demand Price (Dollars per unit) 100.00 Demand 40 20 0 4812 16 20 24 28 32 36 40 2 QUANTITY (Units)

Explanation / Answer

INSERT VALUES OF OUTPUT AND NOTE CORRESPONDING PRICES
FORM A TABLE
TR=OUTPUT*PRICE (PQ)

OUTPUT PRICE TR=PQ
0
8
16
20
24
32
40

ONCE YOU HAVE THIS DATA PLOT TR.USE OUTPUT ON X AXIS AND CORRESPONDING VALUE OF TR ON Y AXIS.THIS WILL GIVE U THE TR CURVE

TR FOR 8 UNITS
PRICE FOR 8 UNITS * 8=

TR FOR 7 UNITS
PRICE FOR 7 UNITS * 7=

MR OF 8TH PRODUCT=TR FOR 8 UNITS - TR FOR 7 UNITS

TR FOR 15 UNITS
PRICE FOR 15 UNITS * 8=

TR FOR 16 UNITS
PRICE FOR 16 UNITS * 7=

MR OF 16TH PRODUCT=TR FOR 16 UNITS - TR FOR 15 UNITS

NOW YOU HAVE TWO MR .PLOT ON GRAPH

GRAPH AND FIND ANSWER

Related Questions

Navigate

• Browse (All)
• Browse P
• Subjects

---