Order the answer to: Draw a straight-line demand curve for a commodity crossing both

Academic Help business economics Order the answer to: Draw a straight-line demand curve for a commodity crossing both

business economics

Order the answer to: Draw a straight-line demand curve for a commodity crossing both

Question Draw a straight-line demand curve for a commodity crossing both axes and its corresponding marginal revenue curve (lying everywhere halfway between the vertical axis and the demand curve). On the same graph, draw a hypothetical supply curve for the commodity crossing the demand and marginal revenue curves. If the demand and supply curves refer to the perfectly competitive market for exports of the commodity, determine the equilibrium price and quantity of exports of the commodity.
Subject business economics
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