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.
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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.
The correct senses and quotations are:
- Generosity - Largesse.
- Talkative - Voluble.
- Conflicting - Discordant.
- Appealing - Invocation.
- Having more than one mate at a time - Polygamous
<h3>Definition of terms </h3>
A person who is described as having largesse is one who is quite generous with their money. A voluble person on the other hand tends to talk a lot.
When there is discordance it means that there is some form of conflict. An invocation is an appeal for something to be done. A polygamous organism has multiple mates.
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A virtual world is used to represent an online space.
The type of character created by the user is called an avatar
<h3>How to determine the character</h3>
From the question, we have the following features of the character created
- The character is an animated character
- The character interacts with other characters and objects
- The character represents the user
When a character has the above features, then such character is called an avatar
Hence, the type of character created by the user is called an avatar
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