The table and diagram below show the cost and demand data for a in palm reading

Question

The table and diagram below show the cost and demand data for a in palm reading services in a midsize town Q corresponds to the number of customers served daily For your convenience, the data is provided in two formats, a table and a graph . Use this information How large is Vanda's total revenue when site produces two units of output? TR_Q-2 = How large is Vanda's total cost when she produces two units of output? TC_Q-2 = c. What price-quantity combination would maximize Vanda's daily revenue ? p = Q = What price-quantity combination would maximize Vanda's daily profit? p = Q = How large is the maximum profit Vanda can attain? Max Profit = In the diagram, outline and shade the area that corresponds to Vanda's maximum attainable profit. If another firm enters the palm reading market, which of the curves in the diagram above with shift (Choose the best answer.) the ATC curve the MC and ATC curves the MR and MC curves the demand curve the demand and MR curves

Explanation / Answer

C) 18 and 8

D) 19 and 5

E) 25

The demand and marginal revenue curve

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