Homework Answers
Total revenue= P*Q
Marginal revenue= TRn-TRn-1
Marginal revenue is the additional revenue received by selling an extra unit of output.
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Calculate the missing total-revenue and marginal-revenue amounts a. Calculate the missing total-revenue and marginal-revenue amounts. mbers...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown on the right a. Calculate the missing total-revenue and marginal-revenue amounts. . Price Demand 0 NOE T11 40 Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Production and Costs LLLLL Demand Total Average Fixed Average...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown on the right a. Calculate the missing total-revenue and marginal-revenue amounts. 30.00 Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Production and Costs Demand Total Average Fixed Average Average Total Marginal Quantity Price Marginal Total...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown on the right a. Calculate the missing total-revenue and marginal-revenue amounts 66.00 Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Production and Costs Demand Total Average Fixed Average Average Total Marginal Quantity Total Marginal Price...
Assume the following cost data are for a purely competitive producer: Average fixed Total Product Average...
Assume the following cost data are for a purely competitive producer: Average fixed Total Product Average variable cost Average total cost Marginal cost cost $45 40 can AWN $60.00 30.00 20.00 15.00 12.00 10.00 8.57 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 7.50 6.67 6.00 (1) (3) (2) Quantity supplied, single firm (4) Quantity supplied, 1500 firms Price Profit (+) or loss (1) $26 32 e. Explain:...
MON Pegamy sy DUO Tao u are nok aatio juodu a je stopoulos pue 2. Assume the following cost data are for a purely compe...
MON Pegamy sy DUO Tao u are nok aatio juodu a je stopoulos pue 2. Assume the following cost data are for a purely competitive producer: Total Average Average Product Fixed Cost Variable Cost Averto Total Cost Marginal Cost $45 $60.00 30.00 20.00 15.00 12.00 10.00 8.57 7.50 6.67 6.00 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 a. At a product price of $58, will this firm...
a. Calculate the missing total-revenue and marginal-revenue amounts for Group 1. Instructions: Enter your answers as...
a. Calculate the missing total-revenue and marginal-revenue amounts for Group 1. Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Group 1 Group 2 Quantity Price Total Marginal Quantity Price Marginal Demanded Revenue Revenue Demanded Revenue Revenue $115 0 Total III 83 71 63 2 3 4 110 144 168 185 198 203 37 29 10 29 b....
Assume the following cost data are for a purely competitive producer: Total Average Average Product Fixed...
Assume the following cost data are for a purely competitive producer: Total Average Average Product Fixed Cost Variable Cost Average Total Cost Marginal Cost COVOAN $60.00 30.00 20.00 15.00 12.00 10.00 8.57 7.50 6.67 6.00 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 $45.00 40.00 35.00 30.00 35.00 40.00 45.00 55.00 65.00 75.00 Answer the following questions (a - c) using the table above. Instructions: 1. For any...
Assume that the following cost data are for a perfectly competitive producer: Total Product Marginal Cost...
Assume that the following cost data are for a perfectly competitive producer: Total Product Marginal Cost , Average Fixed Cost na $60.00 30.00 20.00 15.00 12.00 10.00 Average Variable Cost $0.00 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 Average Total Cost $0.00 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 6 8.57 7.50 6.67 .00 106 Answer the questions in the first column in the table below for each of the prices listed at the...
Use the cost data to complete the charts. Assume that the following cost data are for...
Use the cost data to complete the charts.
Assume that the following cost data are for a purely competitive producer. Marginal Cost en WN- enn Average Fixed Average Average Total Cost Variable Cost Cost na $ 0.00 $ 0.00 60.00 $ 45.00 $ 105.00 30.00 $ 42.50 72.50 20.00 $ 40.00 60.00 15.00 37.50 52.50 55 12.00 37.00 49.00 6 $ 10.00 $ 37.50 $ 47.50 7 $ 8.57 $ 38.57 $ 47.14 8 $ 7.50 $ 40.63 $ 48.13...
Same question/divided into two parts Assume that the following cost data are for a purely competitive...
Same question/divided into two parts
Assume that the following cost data are for a purely competitive producer: as Total Product Average Fixed Total Product Cost 0 na 1 $ 60.00 2 $ 30.00 $ 20.00 $ 15.00 12.00 $ 10.00 $ 8.57 $ 7.50 $ 6.67 10 6 .00 Average Average Total eost Average Total Marginal Cost Variable Cost Cost 0 .00 5 0 .00 na $ 45.00 $ 105.00 $ 45.00 $ 42.50 $ 72.50 $ 40.00 $ 40.00...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown on the right a. Calculate the missing total-revenue and marginal-revenue amounts. . Price Demand 0 NOE T11 40 Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Production and Costs LLLLL Demand Total Average Fixed Average...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown on the right a. Calculate the missing total-revenue and marginal-revenue amounts. 30.00 Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Production and Costs Demand Total Average Fixed Average Average Total Marginal Quantity Price Marginal Total...
Suppose a pure monopolist is faced with the cost data shown in the table on the left and the demand schedule shown on the right a. Calculate the missing total-revenue and marginal-revenue amounts 66.00 Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Production and Costs Demand Total Average Fixed Average Average Total Marginal Quantity Total Marginal Price...
Assume the following cost data are for a purely competitive producer: Average fixed Total Product Average variable cost Average total cost Marginal cost cost $45 40 can AWN $60.00 30.00 20.00 15.00 12.00 10.00 8.57 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 7.50 6.67 6.00 (1) (3) (2) Quantity supplied, single firm (4) Quantity supplied, 1500 firms Price Profit (+) or loss (1) $26 32 e. Explain:...
MON Pegamy sy DUO Tao u are nok aatio juodu a je stopoulos pue 2. Assume the following cost data are for a purely competitive producer: Total Average Average Product Fixed Cost Variable Cost Averto Total Cost Marginal Cost $45 $60.00 30.00 20.00 15.00 12.00 10.00 8.57 7.50 6.67 6.00 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 a. At a product price of $58, will this firm...
a. Calculate the missing total-revenue and marginal-revenue amounts for Group 1. Instructions: Enter your answers as whole numbers in the gray-shaded cells. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Group 1 Group 2 Quantity Price Total Marginal Quantity Price Marginal Demanded Revenue Revenue Demanded Revenue Revenue $115 0 Total III 83 71 63 2 3 4 110 144 168 185 198 203 37 29 10 29 b....
Assume the following cost data are for a purely competitive producer: Total Average Average Product Fixed Cost Variable Cost Average Total Cost Marginal Cost COVOAN $60.00 30.00 20.00 15.00 12.00 10.00 8.57 7.50 6.67 6.00 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 $45.00 40.00 35.00 30.00 35.00 40.00 45.00 55.00 65.00 75.00 Answer the following questions (a - c) using the table above. Instructions: 1. For any...
Assume that the following cost data are for a perfectly competitive producer: Total Product Marginal Cost , Average Fixed Cost na $60.00 30.00 20.00 15.00 12.00 10.00 Average Variable Cost $0.00 $45.00 42.50 40.00 37.50 37.00 37.50 38.57 40.63 43.33 46.50 Average Total Cost $0.00 $105.00 72.50 60.00 52.50 49.00 47.50 47.14 48.13 50.00 52.50 6 8.57 7.50 6.67 .00 106 Answer the questions in the first column in the table below for each of the prices listed at the...
Use the cost data to complete the charts.
Assume that the following cost data are for a purely competitive producer. Marginal Cost en WN- enn Average Fixed Average Average Total Cost Variable Cost Cost na $ 0.00 $ 0.00 60.00 $ 45.00 $ 105.00 30.00 $ 42.50 72.50 20.00 $ 40.00 60.00 15.00 37.50 52.50 55 12.00 37.00 49.00 6 $ 10.00 $ 37.50 $ 47.50 7 $ 8.57 $ 38.57 $ 47.14 8 $ 7.50 $ 40.63 $ 48.13...
Same question/divided into two parts
Assume that the following cost data are for a purely competitive producer: as Total Product Average Fixed Total Product Cost 0 na 1 $ 60.00 2 $ 30.00 $ 20.00 $ 15.00 12.00 $ 10.00 $ 8.57 $ 7.50 $ 6.67 10 6 .00 Average Average Total eost Average Total Marginal Cost Variable Cost Cost 0 .00 5 0 .00 na $ 45.00 $ 105.00 $ 45.00 $ 42.50 $ 72.50 $ 40.00 $ 40.00...
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