COSTS REVENUES Quantity Produced Total Cost Marginal Cost Quantity Demanded Price Total Revenue Marginal Revenue 0...
|
COSTS |
REVENUES |
|||||
|
Quantity |
Total |
Marginal |
Quantity |
|
Total |
Marginal |
|
0 |
$50.00 |
-- |
0 |
$60 |
-- |
|
|
1 |
$75.00 |
1 |
$60 |
|||
|
2 |
$101.00 |
2 |
$60 |
|||
|
3 |
$128.50 |
3 |
$60 |
|||
|
4 |
$158.50 |
4 |
$60 |
|||
|
5 |
$192.50 |
5 |
$60 |
|||
|
6 |
$232.50 |
6 |
$60 |
|||
|
7 |
$281.00 |
7 |
$60 |
|||
|
8 |
$341.00 |
8 |
$60 |
|||
Refer to Table 14-13. What is the economic profit
at the profit maximizing point for this firm?
| a. |
$187.50 |
|
| b. |
$139 |
|
| c. |
$39 |
|
| d. |
$121.50 |
Homework Answers
![Profit maxsonisation happeor at C=AR] =$60 So profit al $60 = TR - Tc 2 480-34 - 839 Ch](http://img.homeworklib.com/questions/c235b720-b9f4-11eb-9449-4d07afda39f1.png?x-oss-process=image/resize,w_560)
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COSTS
REVENUES
Quantity
Produced
Total
Cost
Marginal
Cost
Quantity
Demanded
Price
Total
Revenue
Marginal
Revenue
0...
Table 14-6 John's Vineyard Marginal Cost Marginal Revenue Quantity Produced 0 Quantity Demanded 0 1 1...
Table 14-6 John's Vineyard Marginal Cost Marginal Revenue Quantity Produced 0 Quantity Demanded 0 1 1 2 3 4 5 6 7 8 COSTS Total Cost $0 $50 $102 5157 $217 $285 5365 $462 5582 2 3 4 5 6 7 8 REVENUES Total Price Revenue $80 $80 $80 $80 $80 $80 $80 $80 $80 Refer to Table 14-6. What is John's Vineyard's economic profit at its profit-maximizing output level? $25 $75 $115 $225
Total Revenue Marginal Revenue 1) For the following firm in a competitive market, COSTS REVENUES Quantity...
Total Revenue Marginal Revenue 1) For the following firm in a competitive market, COSTS REVENUES Quantity Total Marginal Quantity Produced Cost Cost Demanded Price SO $80 $50 $80 $102 $80 $157 $80 $217 SSO $285 $80 $365 $80 $462 $80 8 $582 IS $80 a) Fill the column for marginal cost, total revenue and marginal revenue. b) What is interesting about the numbers you find for marginal revenue. c) Based on profit maximization rule that you learned in Chapter 14...
The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price Quantity M...
The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price Quantity Marginal Revenue (dollars) Demanded (dollars) $130 200 $110 120 300 90 110 400 70 100 500 SO 90 600 30 80 700 10 Marginal Cost Average Total Cost (dollars) dollars) $25 $139.00 32 103.30 40 87.50 50 8 0.00 62 77.00 77 7 7.00 What is the monopolist's profit at the profit maximizing level of output? $10,000 $50,000 $80,000 $0
Table 14-12 Bill's Birdhouses COSTS REVENUES Quantity Total Produced Cost Marginal Quantity Cost Demanded Price Total...
Table 14-12 Bill's Birdhouses COSTS REVENUES Quantity Total Produced Cost Marginal Quantity Cost Demanded Price Total Marginal Revenue Revenue $0 $80 $50 $102 a wo $157 $217 $80 Ca W NA $285 $365 $80 $462 $80 $582 Refer to Table 14-12. What is the total revenue from selling 4 units? $320 5137 $480 $80 Question 3 Refer to Table 14-12 (above in Q2). What is the average revenue when 4 units are sold? $0 $68 $400 $80 Question 4 Refer...
QUESTION 3 Marginal Revenue ($) Marginal Cost (5) Revenue (5) Table: Profit-Maximizing Monopolist Price Quantity Total...
QUESTION 3 Marginal Revenue ($) Marginal Cost (5) Revenue (5) Table: Profit-Maximizing Monopolist Price Quantity Total Average ($) (Units) Cost ($) Cost ($) 11 6 17 10 7 19 9 8 21 8 9 23 17 10 25 Reference: Ref 13-2 (Table: Profit-Maximizing Monopolist) Refer to the table. The profit-maximizing quantity for this monopolist is units O A7 OB.9 OC. 10 D.8
Price per Unit Total Revenue (dollars) Marginal Revenue (dollars) $85 80 75 Quantity Demanded (units) 10...
Price per Unit Total Revenue (dollars) Marginal Revenue (dollars) $85 80 75 Quantity Demanded (units) 10 11 12 Total Cost of Marginal Cost Production (dollars) (dollars) $530 540 550 560 15 16 . • • Fill out the rest of the table. What is the firm's profit maximizing output and what is the price charged to sell this output? • Calculate ATC at the profit maximizing quantity. • When producing the profit maximizing output, what is the amount of the...
QUESTION 1 Marginal Revenue ($) Marginal Cost ($) Revenue ($) Table: Profit-Maximizing Monopolist Price Quantity Total...
QUESTION 1 Marginal Revenue ($) Marginal Cost ($) Revenue ($) Table: Profit-Maximizing Monopolist Price Quantity Total Average ($) (Units) Cost ($) Cost ($) 11 17 10 19 9 8 21 8 9 23 7 10 25 7 Reference: Ref 13-2 to the table. When this monopolist sells 8 units, its average cost and marginal cost levels are: (Table: Profit-Maximizing Monopolist) A. $2.56 and $2 respectively. B. $2.63 and $2 respectively. C. $2.56 and 54 respectively. OD. $2.63 and 54 respectively.
Solution: Total revenue - price*quantity Profit- total revenue - total cost Marginal revenue change in revenue/change...
Solution: Total revenue - price*quantity Profit- total revenue - total cost Marginal revenue change in revenue/change in quantitty Average total cost-total cost/quantity Marginal Marginal Change Average al rofirevenue TotalTotal revenue cost Quantity Price profit cost 0 0 16 16 15 30 14 42 13 52 12 60 11 66 10 70 20 4 16 300 36 6 12 4210 10 501 63 з 16 84-14 4 -4 14 4 12 4 4 10.5 10 8 13 10.5 17 10 We...
Choco Lovers Costs and Revenue MC Quantity TC ATC (S) (S) (S) of Gift Boxes 5.75...
Choco Lovers Costs and Revenue MC Quantity TC ATC (S) (S) (S) of Gift Boxes 5.75 5.00 20 115.00 5.50 25 137.50 5 42 5.00 30 6.00 35 192.50 8.00 232.50 5.81 40 282.50 6.28 10.00 45 Instructions: Enter your answers below as whole numbers. For profit and profit per unit, round your answers to 2 decimal places. Include a negative sign if necessary Profit-maximizing price Profit-maximizing quantity 8 Total revenue Profit = Profit per unit =
The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues...
The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price Quantity Marginal Revenue (dollars) Demanded (dollars) $130 200 $130 120 300 100 110 400 80 100 500 60 90 600 40 80 700 20 Marginal Cost (dollars) $25 32 40 Average Total Cost (dollars) $139.00 103.30 87.50 82.00 77.00 77.00 60 52 77 Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a...
Table 14-6 John's Vineyard Marginal Cost Marginal Revenue Quantity Produced 0 Quantity Demanded 0 1 1 2 3 4 5 6 7 8 COSTS Total Cost $0 $50 $102 5157 $217 $285 5365 $462 5582 2 3 4 5 6 7 8 REVENUES Total Price Revenue $80 $80 $80 $80 $80 $80 $80 $80 $80 Refer to Table 14-6. What is John's Vineyard's economic profit at its profit-maximizing output level? $25 $75 $115 $225
Total Revenue Marginal Revenue 1) For the following firm in a competitive market, COSTS REVENUES Quantity Total Marginal Quantity Produced Cost Cost Demanded Price SO $80 $50 $80 $102 $80 $157 $80 $217 SSO $285 $80 $365 $80 $462 $80 8 $582 IS $80 a) Fill the column for marginal cost, total revenue and marginal revenue. b) What is interesting about the numbers you find for marginal revenue. c) Based on profit maximization rule that you learned in Chapter 14...
The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price Quantity Marginal Revenue (dollars) Demanded (dollars) $130 200 $110 120 300 90 110 400 70 100 500 SO 90 600 30 80 700 10 Marginal Cost Average Total Cost (dollars) dollars) $25 $139.00 32 103.30 40 87.50 50 8 0.00 62 77.00 77 7 7.00 What is the monopolist's profit at the profit maximizing level of output? $10,000 $50,000 $80,000 $0
Table 14-12 Bill's Birdhouses COSTS REVENUES Quantity Total Produced Cost Marginal Quantity Cost Demanded Price Total Marginal Revenue Revenue $0 $80 $50 $102 a wo $157 $217 $80 Ca W NA $285 $365 $80 $462 $80 $582 Refer to Table 14-12. What is the total revenue from selling 4 units? $320 5137 $480 $80 Question 3 Refer to Table 14-12 (above in Q2). What is the average revenue when 4 units are sold? $0 $68 $400 $80 Question 4 Refer...
QUESTION 3 Marginal Revenue ($) Marginal Cost (5) Revenue (5) Table: Profit-Maximizing Monopolist Price Quantity Total Average ($) (Units) Cost ($) Cost ($) 11 6 17 10 7 19 9 8 21 8 9 23 17 10 25 Reference: Ref 13-2 (Table: Profit-Maximizing Monopolist) Refer to the table. The profit-maximizing quantity for this monopolist is units O A7 OB.9 OC. 10 D.8
Price per Unit Total Revenue (dollars) Marginal Revenue (dollars) $85 80 75 Quantity Demanded (units) 10 11 12 Total Cost of Marginal Cost Production (dollars) (dollars) $530 540 550 560 15 16 . • • Fill out the rest of the table. What is the firm's profit maximizing output and what is the price charged to sell this output? • Calculate ATC at the profit maximizing quantity. • When producing the profit maximizing output, what is the amount of the...
QUESTION 1 Marginal Revenue ($) Marginal Cost ($) Revenue ($) Table: Profit-Maximizing Monopolist Price Quantity Total Average ($) (Units) Cost ($) Cost ($) 11 17 10 19 9 8 21 8 9 23 7 10 25 7 Reference: Ref 13-2 to the table. When this monopolist sells 8 units, its average cost and marginal cost levels are: (Table: Profit-Maximizing Monopolist) A. $2.56 and $2 respectively. B. $2.63 and $2 respectively. C. $2.56 and 54 respectively. OD. $2.63 and 54 respectively.
Solution: Total revenue - price*quantity Profit- total revenue - total cost Marginal revenue change in revenue/change in quantitty Average total cost-total cost/quantity Marginal Marginal Change Average al rofirevenue TotalTotal revenue cost Quantity Price profit cost 0 0 16 16 15 30 14 42 13 52 12 60 11 66 10 70 20 4 16 300 36 6 12 4210 10 501 63 з 16 84-14 4 -4 14 4 12 4 4 10.5 10 8 13 10.5 17 10 We...
Choco Lovers Costs and Revenue MC Quantity TC ATC (S) (S) (S) of Gift Boxes 5.75 5.00 20 115.00 5.50 25 137.50 5 42 5.00 30 6.00 35 192.50 8.00 232.50 5.81 40 282.50 6.28 10.00 45 Instructions: Enter your answers below as whole numbers. For profit and profit per unit, round your answers to 2 decimal places. Include a negative sign if necessary Profit-maximizing price Profit-maximizing quantity 8 Total revenue Profit = Profit per unit =
The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price Quantity Marginal Revenue (dollars) Demanded (dollars) $130 200 $130 120 300 100 110 400 80 100 500 60 90 600 40 80 700 20 Marginal Cost (dollars) $25 32 40 Average Total Cost (dollars) $139.00 103.30 87.50 82.00 77.00 77.00 60 52 77 Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a...
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