Quantity Variable Cost Total Cost 1 30 90 2 50 110 3 90 150 4 140...
|
Quantity |
Variable Cost |
Total Cost |
|
1 |
30 |
90 |
|
2 |
50 |
110 |
|
3 |
90 |
150 |
|
4 |
140 |
200 |
|
5 |
200 |
260 |
If the market price is $50 (MR=$50), calculate how many units will the firm produce?
Homework Answers
Ans.
| Quantity | Variable cost | Total cost | Marginal cost |
| 1 | 30 | 90 | 30 |
| 2 | 50 | 110 | 20 |
| 3 | 90 | 150 | 40 |
| 4 | 140 | 200 | 50 |
| 5 | 200 | 260 | 60 |
Note: MCn= VCn- VCn-1 or TCn - TCn-1
AT equilibrium in the market where P= MR= MC
If P=MR= $50 which is equal to MC
then the firm will produce 4 units of the output.
Add Answer to:
Quantity
Variable Cost
Total Cost
1
30
90
2
50
110
3
90
150
4
140...
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