Question: Please use the graph to answer the question nuempts I I I I Keep the HIQHGI! l 3 11. Prot maximization using total emit and
Please use the graph to answer the question


nuempts I I I I Keep the HIQHGI! l 3 11. Prot maximization using total emit and total revenue curve: 11;) retail shop that sells phane cases. Assume a phone cases with a market price equal to $20 per phone Case. The following graph shows Madison'e metal cost curve. Use the blue points {circle gymbol) to plot total revenue and the green points (triangle symbol) to plot prot for phone cases for quantities zero through seven (including zero and seven) that Madison produces. @ Z'D T g 2.9., 115 I ' Tolalmnue :59 i I "A? an i i m +0TAL COST AND REVENUE (Cellar!) a 1 z 2 ' 5 7 Calculate Madison's marginal revenue and marginal cost for the rst seven phone cases they . I reduce and plot them an the following graph. Use the blue points (Circle symbol) to plot margtna fevenue'and the orange points (square symbol) to plot marginal cost at each quantity. Mlglnal Revenue Mammal Cost '-
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