Chillman Motors, Inc., is an oligopolist and faces the following kinked demand curve: 200 180 MR...

  

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Chillman Motors, Inc., is an oligopolist and faces the following kinked demand curve: 200 180 MR 160 140 120 MC 100 80 60 40 20 10 20 30 40 50 60 70 80 90 100 Quantity Price and cost ($/Unit) The demand function can be expressed algebraically as: P = 200 – 0.4Q when 0<Q < 50 = 280 – 20 when 0> 50 Calculate the marginal revenue (MR) function facing Chillman and plot it on the graph using the green points (triangle symbols). (Hint: Start with (0,200) and end at (70, 0). Use all four points.) Chillman's total cost function is TC = 500 + 40Q + 0.5Q? Using the orange line (square symbols), plot the marginal cost curve on the graph. Chillman maximizes profit by selling units at a price of $ per unit. Chillman Motors, Inc., is an oligopolist and faces the following kinked demand curve: 200 180 MR 160 140 120 MC 100 80 60 40 20 10 20 30 40 50 60 70 80 90 100 Quantity Price and cost ($/Unit) The demand function can be expressed algebraically as: P = 200 – 0.4Q when 0<Q < 50 = 280 – 20 when 0> 50 Calculate the marginal revenue (MR) function facing Chillman and plot it on the graph using the green points (triangle symbols). (Hint: Start with (0,200) and end at (70, 0). Use all four points.) Chillman's total cost function is TC = 500 + 40Q + 0.5Q? Using the orange line (square symbols), plot the marginal cost curve on the graph. Chillman maximizes profit by selling units at a price of $ per unit.