(Solved): 2. Calculating marginal revenue from a linear demand curve The blue curve on the foliowing graph re ...

2. Calculating marginal revenue from a linear demand curve The blue curve on the foliowing graph represents the demand curve facing a firm that can set its own prices. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Calculate the total revenue if the firm produces 2 versus 1 units. Then, calculate the marginal revenue of the second unit produced. The marginal revenue of the second unit produced is Calculate the total revenue if the firm produces 4 versus 3 units. Then, calculate the marginal revenue of the fourth unit produced. The marginal revenue of the fourth unit produced is Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (p/us syh to plot the firm's marginal revenue curve on the following graph. (Round all values to the nearest increment of 20.) Calculate the total revenue if the firm produces 4 versus 3 units. Then, calculate the marginal revenue of the fourth unit produced. The marginal revenue of the fourth unit produced is Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (olus symbo. to plot the firm's marginal revenue curve on the following graph. (Round all values to the nearest increment of 20. ) Comparing your total revenue graph to your maroinal cevenue oraph, you can see that total revenue is matginal revencie is equal to zero.