On a graph, show the demand for Elixir water and Elixir Springs marginal revenue curve. What are
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On a graph, show the demand for Elixir water and Elixir Spring’s marginal revenue curve. What are Elixir’s profit-maximizing price, output, and economic profit?
Elixir Spring produces a unique and highly prized mineral water. The firm’s total fixed cost is $5,000 a day, and its marginal cost is zero. The table shows the demand schedule for Elixir water.
Transcribed Image Text:
Price (dollars per bottle) 10 8 6 4 2 0 Quantity (bottles per day) 0 2,000 4,000 6,000 8,000 10,000
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Elixir Springs marginal revenue curve and demand curve are illustrated in Figure 161 A...View the full answer
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