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The components of marginal revenue Hubert's Fire Engines is the sole seller of fire engines in the fictional country of Pyrotania

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The components of marginal revenue Hubert's Fire Engines is the sole seller of fire engines in the fictional country of Pyrotania. Initially, Hubert produced eight fire engines, but he is considering increasing production to nine fire engines. The following graph shows the demand curve Hubert faces. As you can see, to sell the additional engine, Hubert must lower his price from $80,000 to $40,000 per fire engine. Note that although Hubert would gain revenue from the additional engine he sells, he would also lose revenue from the initial eight engines because he would have to sell them all at the lower price, use the purple rectangle (diamond symbols) to shade the area representing the revenue fost from the initial eight engines by selling at $40,000 rather than $80,000, Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $40,000 Revenue Lost Revenue and PRO Terror Demand 3 QUANTITY increase production from to the engines, because the dominates in this scenario Engines were a competitive minstead and $50,000 were the market price for an engine, increasing its production whole which it conseil engines
1. The components of marginal revenue Hubert's Fire Engines is the sole sellor of fire engines in the fictional country of Pyrotonin. Initially, Hubert produced elght fire engines, but he is considering increasing production to nine fire engines. The following graph shows the demand curve Hubert faces. As you can see, to sell the additional engine, Hubert must lower his price from $80,000 to $40,000 per fire engine. Note that although Hubert would gain revenue from the additional engine he sels, he would also lose revenue from the initial engines because he would have to sell them all at the lower price Use the purple rectangle (diamond symbols) to shade the wea representing the revenue fost from the invita eh engines by selling at $40,000 rather than $80,000. These use the green rectangle (twole symbols) to shade the area representing the revenue gesined from selling any additional engine at $40,000 Revenue Lost Revenge and Restore Demand 2 QUANTITY) increase production from the engines, because the dominates in this son stre Engines were a competitive fum intend and $80,00 ou effed price for an engine, increasing its production price effect