{"id":124352,"date":"2022-01-26T09:21:45","date_gmt":"2022-01-26T09:21:45","guid":{"rendered":"https:\/\/essayparlour.com\/custom-essays\/?p=124352"},"modified":"2022-01-26T09:21:45","modified_gmt":"2022-01-26T09:21:45","slug":"consider-the-demand-curve-for-otter-food-shown-belowa-indicate","status":"publish","type":"post","link":"https:\/\/essayparlour.com\/custom-essays\/business-economics-2\/consider-the-demand-curve-for-otter-food-shown-belowa-indicate\/","title":{"rendered":"Consider the demand curve for otter food shown below:\na. Indicate"},"content":{"rendered":"<table style = 'table-striped table-bordered table-hover' responsive='true'>\n<tr>\n<th>Question<\/th>\n<\/tr>\n<tr>\n<td>a. Indicate the area representing the total revenue Oscar the otter food seller would receive if he chose a price of $6.<br \/>\n b. On the same graph, indicate the area representing the total revenue Oscar the seller would receive if he chose a price of $5.<br \/>\n c. You should now have added two rectangles to your graph; however, because of some overlap, it actually appears that you&#8217;ve added three. One of the three is common to both scenarios above. The other two (smaller) rectangles are specific to scenario (a) or scenario (b). Label each rectangle with &#8220;A,&#8221; &#8220;B,&#8221; or &#8220;both&#8221; to indicate which scenario each rectangle belongs to.<br \/>\n d. Indicate what happens (gain or loss) to rectangle A as Oscar reduces his price from $6 to $5. Why?<br \/>\n e. Indicate what happens (gain or loss) to rectangle B as Oscar reduces his price from $6 to $5. Why?<br \/>\n f. Calculate the area of rectangle A and the area of rectangle B. Then, subtract the area of A from the area of B.<br \/>\n g. Calculate the marginal revenue Oscar receives when he sells a 4th unit. Does your answer agree with the number you calculated in (f)? Explain.<\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Question<\/p>\n<p>\na. Indicate the area representing the total revenue Oscar the otter food seller would receive if he chose a price of $6.<br \/>\n b. On the same graph, indicate the area representing the total revenue Oscar the seller would receive <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[],"class_list":["post-124352","post","type-post","status-publish","format-standard","hentry","category-business-economics-2"],"_links":{"self":[{"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/posts\/124352","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/comments?post=124352"}],"version-history":[{"count":1,"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/posts\/124352\/revisions"}],"predecessor-version":[{"id":124353,"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/posts\/124352\/revisions\/124353"}],"wp:attachment":[{"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/media?parent=124352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/categories?post=124352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/essayparlour.com\/custom-essays\/wp-json\/wp\/v2\/tags?post=124352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}