Using Figure 14.6, verify that total revenue is higher at points v and v? than at points

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Using Figure 14.6, verify that total revenue is higher at points v and v? than at points w and w? by calculating total revenue for both allocations of 500 units.

Figure 14.6

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Managerial Economics Foundations of Business Analysis and Strategy

ISBN: 978-0078021909

12th edition

Authors: Christopher Thomas, S. Charles Maurice

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Question Posted: Feb 24, 2020 08:58 AM

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Using Figure 14.6, verify that total revenue is higher at points v and v? than at points

Question:

08 60 55 50 E2 = -1.67 40 E = -2 40 35 D2 30 20 10 MR1 MR2 100 200 300 200 300 40O 250 250 Quantity (Q1) Quantity (Q2) Panel A-Market 1 Panel B-Market 2 Price and marginal revenue (dollars) Price and marginal revenue (dollars) 20

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Total Revenue at v and v points We know that price is determined at demand curve For ...View the full answer

Managerial Economics Foundations of Business Analysis and Strategy

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