I need answer ASAP. Thank youu! Question 31: Plot the MR and AR from Table 1 and the MC and ATC from Table 2 IN ONE GRAPH.(x-axis = output Q and y-axis = revenues and costs). Label the graph properly.Note: Shade the DWL in the graph and indicate the efficient output level as Q*.Table 1Table 2Output PriceTotalAverageMCATCMarginalRevenuerevenueRevenue414ATRTR=610AQ00250892424109.523461210226661411218471611.5201008181219114920131812617136What is the price of the1614415150monopolist and the profitmaximizing output?141541315How much is the profit per unit12156and total profit at this output11154level?10150123456الامام78992210111314154524222018161412108640-2-4242322212019181716151413121110Output12345

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Question 31: Plot the MR and AR from Table 1 and the MC and ATC from Table 2 IN ONE GRAPH. (x-axis = output Q and y-axis = revenues and costs). Label the graph properly. Note: Shade the DWL in the graph and indicate the efficient output level as Q*. Table 1 Table 2 Output Price Total MC ATC Marginal Average Revenue Revenue revenue 4 14 ATR TR = 6 10 AQ 0 0 25 0 8 9 24 24 10 9.5 23 46 12 10 22 66 14 11 21 84 16 11.5 20 100 18 12 19 114 9 20 13 18 126 17 136 What is the price of the 16 144 15 150 monopolist and the profit maximizing output? 14 154 13 156 How much is the profit per unit 12 156 and total profit at this output 11 154 level? 10 150 ه ایران اس اداس اوارامام 1 2 3 4 5 6 7 8 9 10 922 11 12 13 14 15 24 22 20 18 16 14 12 10 8 6 4 2 0 -2 -4 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 Output 1 2 3 4 567 000 8

Question 31: Plot the MR and AR from Table 1 and the MC and ATC from Table 2 IN ONE GRAPH. (x-axis = output Q and y-axis = revenues and costs). Label the graph properly. Note: Shade the DWL in the graph and indicate the efficient output level as Q*. Table 1 Table 2 Output Price Total MC ATC Marginal Average Revenue Revenue revenue 4 14 ATR TR = 6 10 AQ 0 0 25 0 8 9 24 24 10 9.5 23 46 12 10 22 66 14 11 21 84 16 11.5 20 100 18 12 19 114 9 20 13 18 126 17 136 What is the price of the 16 144 15 150 monopolist and the profit maximizing output? 14 154 13 156 How much is the profit per unit 12 156 and total profit at this output 11 154 level? 10 150 ه ایران اس اداس اوارامام 1 2 3 4 5 6 7 8 9 10 922 11 12 13 14 15 24 22 20 18 16 14 12 10 8 6 4 2 0 -2 -4 24 23 22 21 20 19 18 17 16 15 14 13 12 11 10 Output 1 2 3 4 567 000 8

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter11: The Firm: Production And Costs

Section: Chapter Questions

Problem 21P

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