Fill in the missing cells. ASsume the firm operates in a perfecly competiuve environment in both the input and output markets. Calculate the profit (loss) when the firm recerves $0.40 for the product. Q4P(L) TFC TVC TC MC ATC AVC AFC 2. 40 110 120 24 0.25 2.35 65 1.69 0.307 0.375 1.335 D4441.222 0.4 80 90 150 30

Fill in the missing cells. ASsume the firm operates in a perfecly competiuve environment in both the input and output markets. Calculate the profit (loss) when the firm recerves $0.40 for the product. Q4P(L) TFC TVC TC MC ATC AVC AFC 2. 40 110 120 24 0.25 2.35 65 1.69 0.307 0.375 1.335 D4441.222 0.4 80 90 150 30

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter8: Perefect Competition

Section: Chapter Questions

Problem 4SQP

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A computer company produces affordable, easy-to-use home computer systems and has fixed costs of 250. The marginal cost of producing computers is 700 for the first computer, 250 for the second, 300 for the third, 350 for the fourth, 430 for the fifth, 450 for the sixth, and 500 for the seventh. Create a table that shows the companys output, total cost, marginal cost, average cost, variable cost, and average variable cost. At what price is the zero-profit point? At what price is the shutdown point? If the company sells the computers for 500, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVG curves to illustrate your answer and show the profit or loss. If the firm sells the computers for 300, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVG curves to illustrate your answer and show the profit or loss.
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1. Fill in the missing cells. Assume the firm operates in a perfectly competiuve environment in both the input and output markets. Calculate the profit (loss) when the firm receives S0.40 for the product. Each missing cell is 0.25 to a total of 7.5 for this question. Q4 P(L) AFC 2.75 TFC TVC TC MC ATC AVC 2. 40 110 10 120 24 0.25 65 20 124 0.4 93 0.307 1.69 0.375 1.3-5 0.4441.222 6. 80 28 30 30 0.66 90 150 2. Complete the following table below. Each missing cell is 0.25 to a total of 2.5 for this question. Input Output TFC TVC TC MC AFC AVC АТС 95 100 125 1.25 20 40 6.25 44 25 200 250 10 0.625 5/ 6.25/
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