Fill in the missing data for price (P), total revenue (TR), marginal revenue (MR), total cost...

Fill in the missing data for price (P), total revenue (TR), marginal revenue (MR), total cost (TC), marginal cost (MC), profit (π), and marginal profit (Mπ) in the following table:

Q	P	TR=P×Q	MR=ΔTR/ΔQ	TC	MC=ΔTC/ΔQ	π	Mπ=Δπ/ΔQ

0	$160	$0	0	$0	0	$0	0
1	150	150	150	25	25	125	125
2	140	280	130	55	30	225	100
3	130	390	110	90	35	300	75
4	120	480	90	130	40	350	50
5	110	550	70	175	45	375	25
6	100	600	50	230	55	370	5
7	90	630	30	290	60	340	-30
8	80	640	10	355	65	285	-55
9	70	630	-10	430	75	200	-85
10	60	600	-30	525	95	75	-125

Graph the firm’s demand curve and marginal revenue curve.

Graph the firm’s total cost curve, total revenue curve, and total profit curve.

Expert Solution

Answer : The demand curve and marginal revenue curve re shown in the following picture's diagram.

Total cost curve, total revenue curve and total profit curve are shown by the following picture's diagram.

Rahul Sunny answered 1 year ago

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