Suppose the profit maximizing output is 160,000 smart rackets
1 answer:
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.
You might be interested in
For a first-order reaction, the unit of frequency factor (A) is s⁻¹.
<h3>What is the Arrhenius equation?</h3>The Arrhenius equation can be used to calculate the rate constant at a given temperature for a first-order reaction. Mathematically the Arrhenius equation is given by:
For a first-order reaction, the unit of frequency factor (A) is s⁻¹ because it has the same unit as the rate constant.
Read more on rate constant here: brainly.com/question/24749252
#SPJ1