How are the demand, MR, MC and ATC curves graphed for the following table: Price

Question

How are the demand, MR, MC and ATC curves graphed for the following table:

Price x Quantity = Demanded Total Revenue Marginal Revenue Total Cost Marginal Cost Average Total Cost Profit = (TR - TC) 45.00 10 450.00 __ 160.00 0.00 16.00 290.00 44.50 11 489.50 39.50 186.00 26.00 16.90 303.50 44.00 12 528.00 38.50 214.00 28.00 17.83 314.00 43.50 13 565.50 37.50 244.00 30.00 <?xml:namespace prefix = v ns = "urn:schemas-microsoft-com:vml" /?> <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /?> <?xml:namespace prefix = x ns = "urn:schemas-microsoft-com:office:excel" /?> Bitmap 18.77 (rounded) 321.50 43.00 14 602.00 36.50 276.00 32.00 19.71 326.00 42.50 15 637.50 35.50 310.00 34.00 20.67 (rounded) 327.50 42.00 16 672.00 34.50 346.00 36.00 21.63 (rounded) 326.00 41.50 17 705.50 33.50 384.00 38.00 22.59 (rounded) 321.50 41.00 18 738.00 32.50 424.00 40.00 23.56 (rounded) 314.00 40.50 19 769.50 31.50 466.00 42.00 24.53 (rounded) 303.50 40.00 20 800.00 30.50 510.00 44.00 25.50 290.00

Explanation / Answer

Simply plot the values in a graph and you will see the result.

The demand curve is linearly increasing (slope = 63.4 deg).

The MR curve is linearly decreasing (slope = -63.4 deg).

The MC curve is linearly increasing (slope = -75.9 deg).

The ATC curve is almost linearly decreasing (slope = -44 deg approx)

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