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If change in total revenue is $120
And change in output is 6 units
Calculate marginal revenue
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- Find average revenue if total revenue is $4400 and output is 22The value of Total revenue is $400 and the average revenue is $40 Calculate the outputTOTAL COST AND REVENUE (Dollars) 100 Total Cost ם Total Revenue 75 50 -25 A 50 0 1 2 5 QUANTITY (Shirts) A A Profit Calculate Neha's marginal revenue and marginal cost for the first seven shirts she produces and plot them on the following graph. Use the blue points (circle symbol) to plot marginal revenue and the orange points (square symbol) to plot marginal cost. (?) COSTS AND REVENUE (Dollars per shirt) 30 25 225 20 15 10 о OO 2 3 A 5 6 QUANTITY (Shirts) Marginal Revenue + Marginal Cost Neha's profit is maximized when she produces 10 shirts. When she does this, the marginal cost of the previous shirt she produces is $ which is than the price Neha receives for each shirt she sells. The marginal cost of producing an additional shirt (that is, one more shirt than would maximize her profit) is S than the price Neha receives for each shirt she sells. Therefore, Neha's profit- maximizing quantity corresponds to the intersection of the which is curves. Because Neha is a price taker, this…
- How do you calculate a firm's total cost and total revenue?Price and cost (dollars per student) $150 120 88 76 72 ATC 40 - MC MR 24,000 30,000 36,000 Quantity of students enroiled 15,000 Your college decides to offer a psychology course as a MOOC that can be taken by students anywhere in the world, whether they are actually enrolled in your college or not. The demand and cost situation for the MOOC is shown in the figure. The faculty member who designed the course argues: "I think the course should be priced so that the maximum number of students enroll." Which price should this faculty member favor? O A. $0 В. $40 C. $88 D. $150If total revenue is $300 and output is 10 units Find average revenue
- A Exercise (Structured Questions) G bought goods on credit from lab x deby TUZMJK4/a/MJM4NDI3MTA5M)YY/details cost, average fixed cost, long marginal revenue is Open with Google Docs fit. run average cost, total 3. Given information in the following table: Quantity Price (RM) Total Cost 60 18 58 20 3. 54 24 48 30 5 40 38 28 50 14 70 b. Determine the quantity produced by the firm c. How much does the firm earn in terms of profit" d. What is the average cost of the firm? e Sketch the AC, AR, MR and MC curve without a seale.Calculate Total revenue if average revenue is $15 and output is 1000How do we measure the Profit Margin on Sales?