Question: Answer the following questions precisely. (i) Complete the following table to show the total revenue, profit, marginal revenue and marginal cost. Total Output Total Price

 Answer the following questions precisely. (i) Complete the following table toshow the total revenue, profit, marginal revenue and marginal cost. Total Output

Answer the following questions precisely.

Total Price Marginal Profit Marginal revenue COST revenue cost 0 10.00 9.9511.00 2 9.80 11.51 3 9.54 12.41 4 9.17 14.00 5 8.66

(i) Complete the following table to show the total revenue, profit, marginal revenue and marginal cost. Total Output Total Price Marginal Profit Marginal revenue COST revenue cost 0 10.00 9.95 11.00 2 9.80 11.51 3 9.54 12.41 4 9.17 14.00 5 8.66 16.46 6 8.00 19.91 7 7.14 24.44 8 6.00 30.12 9 4.36 37.00 10 0.00 45.13 (ii) Show how the marginal revenue of +$1.98 when the 7th unit is sold can be explained in terms of two effects.You have been given the following census counts for a population (covering all ages): Po04 = Number in population on 1 January 2004 = 20,000 Pzoos = Number in population on 1 January 2005 = 40,000 Poor = Number in population on 1 January 2006 = 30,000 Estimate the central exposed to risk (all ages) for this population over each of the following periods, given only the census counts 2004 , Pzoos and P2006 - In each case, state any assumptions you have made. (1) Period: 1 January 2004 to 31 December 2005 [2] (ii) Period: 1 July 2004 to 30 June 2005 [2] (iii) Period: 1 January 2006 to 31 December 2006 [2] (iv) Period: 1 April 2005 to 31 March 2006 [2] [Total 8]

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