Top Posters
Since Sunday
Home Q & A Board Other Fields Homework Help Business Economics
New Topic  
yojoe102 yojoe102
wrote...
Go to Answer
Posts: 120
Rep: 0 0
A year ago

The diagram below shows supply, demand, and quantity exchanged of Monday matinee movie tickets. Assume it is a perfectly competitive market.

Short description: A graph plots quantity against price in dollars. Long description: The horizontal axis representing quantity ranges from 0 to 100, in increments of 10. The vertical axis representing price (dollars) ranges from 0 to 10, in increments of 1. The graph plots two lines. The line representing S passes through the following points: (0, 0), (25, 2.50), (50, 5), (75, 7.50), and (100, 10). The line representing D passes through the following points: (0, 10), (25, 7.50), (50, 5), (75, 2.50), and (100, 0). The two lines intersect at the point (50, 5). Three vertical dashed lines are drawn from 25, 50, and 75 to meet the line, D. Three horizontal dashed lines are drawn from 2.5, 5, and 7.5 to meet the line, D. Note: All values are approximate.

FIGURE 12-4

Refer to Figure 12-4. What is the total revenue received by the sellers of this product at the allocatively efficient level of output?



▸ $250

▸ $5

▸ $375

▸ $125

▸ $500
Textbook 
Microeconomics

Microeconomics


Edition: 17th
Author:
Read 22 times
1 Reply
Replies
Answer verified by a subject expert
xoxoitaliangurlxoxoitaliangurl
wrote...
#1
Posts: 99
Rep: 0 0
A year ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
1

Related Topics

yojoe102 Author
wrote...

A year ago
This helped my grade so much Perfect
ky
wrote...

Yesterday
Just got PERFECT on my quiz
Katey_maree
wrote...

2 hours ago
Helped a lot
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1239 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 164
  
 273
  
 333
Your Opinion
Which industry do you think artificial intelligence (AI) will impact the most?
Votes: 352
Previous poll results: Should Ph.D.'s be addressed as doctors?