The attached graph shows the required curves to be drawn. One of the curves is called the Marginal Revenue Curve.
<h3>What is a marginal revenue curve?</h3>
At the market price, the marginal revenue curve is a horizontal line, suggesting completely elastic demand, and it is equal to the demand curve.
Monopoly occurs when one corporation is the exclusive vendor of a distinct product in the market.
Learn more bout marginal revenue curve at;
brainly.com/question/17049363
#SPJ1
Full Question:
The graph shows the market for smart rackets.
Suppose the profit-maximizing output is 160,000 smart rackets.
Draw the firm's marginal revenue curve. Label it MR.
Draw the firm's marginal cost curve. Label it MC.
Draw a point at the profit-maximizing output and price.
Draw a shape to show the firm's economic profit. Label it.
When financial statements are revised to reflect the impact of a change in accounting principle, the <u>retrospective </u>approach is used.
<h3>What is financial statement?</h3>
Financial statement is use to record a company financial position as well as day to day operation or activities.
Hence, retrospective approach are often used in a situation where financial statements are revised so as to reflect the impact of a change in accounting principle.
Learn more about Financial statement here:brainly.com/question/22941895
#SPJ1
The main thing which the feudal system was based on was land ownership.
<h3>What is Feudalism?</h3>
This refers to the social system that was mainly used in medieval Europe where a lord gave land to his vassals as a reward,
Hence, we can see that your question is incomplete so a general overview of the feudal system was given to help you get a better understanding of the concept.
Read more about feudalism here:
brainly.com/question/4141227
#SPJ1
Answer:
intelligence and creativity