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

Subject:EconomicsPrice:2.85 Bought3

Share With

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 graded 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 Market for Goods 200 Quant it 180 (Units) 160 Demand Price 100.00 E 140 (Dollars per unit) B. 120 100 800 60 Demand 40 0 4 6 10 12 14 16 18 20 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 of 0, 4, 8, 10, 12, 16, and 20 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.