Medical Receptionists, Inc. (MRI), handles the paperwork for filing of medical insurance claims.The work can be done entirely by hand, but by investing in computers the company can process more forms in the same amount of time.The relationship between the number of computers in which MRI invests and the total product-number of claims processed-is shown in the table below. MRI receives $20 per claim processed. Each computer would require an investment of $2,000. Given this information find the marginal rate of return on each computer and plot the data in the diagram.
Number of Computers Total product
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1
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600
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second supply curve representing the supply of loanable
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2
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1,000
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funds for new car loans. Identify the rate of interest and
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3
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1,300
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quantity of funds lent for purchasing new cars.
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4
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1,500
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5
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1,600
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6
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1,600
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