Refer to Table 14-3. What is the total revenue from selling 4 units? Table 14-3 The...

  

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Refer to Table 14-3. What is the total revenue from selling 4 units? Table 14-3 The following table presents cost and revenue information for Soper's Port Vineyard. Quantity Produced 0 1 2 3 4 5 6 7 8 $480 $120 $257 $317 COSTS Total Cost $100 $150 $202 $257 $317 $385 $465 $562 $682 Marginal Cost Quantity Demanded 0 1 2 3 4 5 6 8 REVENUES Price $120 $120 $120 $120 $120 $120 $120 $120 $120 Total Revenue Marginal Revenue The graph below presents the average monthly demand of 4' x 8' sheets of plywood from a typical home building supply store 15 24 15 32 11 Price 10 9 a 200 400 Qd 600 8:00 1000 1200 1400 1000 1800 2000 2200 2400 2600 2800 3000 Quantity Using the midpoint formula, estimate the price elasticity of demand when the decreases from $13 to $8 (round to 2 decimals) Enter your answer (round to 2 decimals). If you are entering a negative number be sure to include a negative sign (-) in front of that number Refer to Table 14-3. What is the total revenue from selling 4 units? Table 14-3 The following table presents cost and revenue information for Soper's Port Vineyard. Quantity Produced 0 1 2 3 4 5 6 7 8 $480 $120 $257 $317 COSTS Total Cost $100 $150 $202 $257 $317 $385 $465 $562 $682 Marginal Cost Quantity Demanded 0 1 2 3 4 5 6 8 REVENUES Price $120 $120 $120 $120 $120 $120 $120 $120 $120 Total Revenue Marginal Revenue The graph below presents the average monthly demand of 4' x 8' sheets of plywood from a typical home building supply store 15 24 15 32 11 Price 10 9 a 200 400 Qd 600 8:00 1000 1200 1400 1000 1800 2000 2200 2400 2600 2800 3000 Quantity Using the midpoint formula, estimate the price elasticity of demand when the decreases from $13 to $8 (round to 2 decimals) Enter your answer (round to 2 decimals). If you are entering a negative number be sure to include a negative sign (-) in front of that number

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