A firm has total cost of TC(y)=y²+1 and marginal cost of MC(y)=2y. How much will the firm supply at price $8?
P = MC is the firm supply equation.
P = 2y
Put P = 8
8 = 2y
y = (8 /2)
y = 4
Firm will supply 4 units of output at a price of $8.
A firm has total cost of TC(y)=y²+1 and marginal cost of MC(y)=2y. How much will the...
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The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Quantity Total Cost Marginal Cost Marginal Revenue Price $31 29 Total Revenue $0 725 810 $50 100 25 30 27 107.5 1.5 L 17 35 25 117.5 13 40 132.5 9 23 21 19 920 945 45 50 950 192.5 7 Instructions: Enter your answers as whole numbers....
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The table below shows the total cost (TC) and marginal cost (MC)
for Choco Lovers, a perfectly competitive firm producing different
quantities of chocolate gift boxes. The market price of a gift box
is $10 per box.
Instructions: Enter your answers as whole numbers. For
profit per gift box, round your answers to 2 decimal
places.
a. Fill in the marginal revenue (MR) and average revenue (AR)
columns.
b. Given a price of $10 per gift box, how many gift...
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