Calculate total revenue and marginal revenue and then answer three questions about output and marginal revenue....
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Calculate total revenue and marginal revenue and then answer three questions about output and marginal revenue. Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. a. Compute total and marginal revenue to complete the table below. Quantity Demanded Price (per Unit) Total Revenue (Units per Day) Marginal Revenue (MR) $22 10 21 11 20 19 13 18 14 17 15 16 16 15 17 14 18 13 19 234567% 0 12 b. At what rate of output is total revenue maximized? units per day c. At what rate of output is MR less than price? (Click to select) d. At what rate of output does MR first become negative? at quantities greater than units per day Calculate total revenue and marginal revenue and then answer three questions about output and marginal revenue. Instructions: Enter your responses as a whole number. If you are entering any negative numbers be sure to include a negative sign () in front of those numbers. a. Compute total and marginal revenue to complete the table below. Quantity Demanded Price (per Unit) Total Revenue (Units per Day) Marginal Revenue (MR) $22 10 21 11 20 19 13 18 14 17 15 16 16 15 17 14 18 13 19 234567% 0 12 b. At what rate of output is total revenue maximized? units per day c. At what rate of output is MR less than price? (Click to select) d. At what rate of output does MR first become negative? at quantities greater than units per day
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