Homework 4 part 2 - 17. The new profit maximizing quantity...

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17.The new profit maximizing quantity (in cups) of lemonade is.Table for Individual Question FeedbackPoints Earned:3.0/3.0Correct Answer(s):5018.The new corresponding maximum profit is $Table for Individual Question FeedbackPoints Earned:3.0/3.0Correct Answer(s):25, 25.0, 25.0019.Imagine that you kept the “sticky” lemonade price even though demand has changed (use the price youfound in #12). What is the quantity sold now?Table for Individual Question FeedbackPoints Earned:3.0/3.0Correct Answer(s):7020.NOTE:There is no graphing component to be collected for this homework. However, you should becomfortable creating two separate graphs from the above questions in part 2.You should be able to:1.Draw a demand curve graph showing both the original and new demand curves. Labelequilibrium price and quantity in in both cases.2.Draw the total revenue curves for both cases in a graph directly below the demand curve graph(remember the horizontal axes for the demand curve graph and the total revenue graph are thesame).

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Term
Fall
Professor
staff
Tags
Macroeconomics, Supply And Demand, Correct Answer, Individual Question

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