SETTINGS الله 175 MC 150 125 100 75 50 25 ATC AVC MR D 0 20 40 60 80 100 120 140 160 180 Quantity (units per month) Reset PROFIT CALCULATIONS Market Price (P) $125.00 Cost Structure Low Cost High Cost Marginal Revenue (MR) $50.00 abcde klmno Marginal Cost (MC) $55.00 Quantity Revenue $7,500.00 10 120 Costs $5,066.67 Quantity 60 Profit $2,433.33 Instructions: Make sure the Interactive is set to "Natural Monopoly" on the upper right side of the Graph section. When "Natural Monopoly" is selected, it will have a dark blue background. With the Cost Structure (in the settings section) set to "a" a. What is the profit maximizing quantity? 60 units b. What is the maximum profit that can be earned? $ 2100 With the Cost Structure (in the settings section) set to "e" c. What is the profit maximizing quantity? units d. What is the maximum profit that can be earned? $ Let the Cost Structure remain at "e" e. If the firm decides to produce 80 units (where the average total cost equals demand-P-ATC) the Revenue is $ 8000] .the Costs are $ 8000 . and profits are $

SETTINGS الله 175 MC 150 125 100 75 50 25 ATC AVC MR D 0 20 40 60 80 100 120 140 160 180 Quantity (units per month) Reset PROFIT CALCULATIONS Market Price (P) $125.00 Cost Structure Low Cost High Cost Marginal Revenue (MR) $50.00 abcde klmno Marginal Cost (MC) $55.00 Quantity Revenue $7,500.00 10 120 Costs $5,066.67 Quantity 60 Profit $2,433.33 Instructions: Make sure the Interactive is set to "Natural Monopoly" on the upper right side of the Graph section. When "Natural Monopoly" is selected, it will have a dark blue background. With the Cost Structure (in the settings section) set to "a" a. What is the profit maximizing quantity? 60 units b. What is the maximum profit that can be earned? $ 2100 With the Cost Structure (in the settings section) set to "e" c. What is the profit maximizing quantity? units d. What is the maximum profit that can be earned? $ Let the Cost Structure remain at "e" e. If the firm decides to produce 80 units (where the average total cost equals demand-P-ATC) the Revenue is $ 8000] .the Costs are $ 8000 . and profits are $

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Activity Frame A 2191 A 1878 1565 n 1252 939 626 0 A + + 0 5 10 TOTAL REVENUE (Dollars) 3130 2817 2504 MARGINAL REVENUE (Dollars) 313 Calculate the total revenue if the firm produces 10 versus 9 units. Then, calculate the marginal revenue of the 10th unit produced. The marginal revenue of the 10th unit produced is $ Calculate the total revenue if the firm produces 20 versus 19 units. Then, calculate the marginal revenue of the 20th unit produced. The marginal revenue of the 20th unit produced is $ 250 Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (plus symbol) to plot the firm's marginal revenue curve on the following graph. 225 200 175 150 125 100 75 50 25 0 15 20 25 30 35 40 QUANTITY (Number of units) -25 -50 0 A 45 50 5 10 15 Total Revenue 20 25 30 35 QUANTITY (Units) 40 45 50 Marginal Revenue (?) Comparing your total revenue graph to your marginal revenue graph, you can see that total revenue is…
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Output (unit) Total Cost (RM) Price (RM) 1 550 660 2 670 585 3 720 510 4 740 435 800 360 960 285 1190 210 135 60 8 1520 2160 Table 3 Table 3 shows data for a firm's production and costs in the long run. a. Based on Table 3, compute the marginal cost, average cost, marginal revenue, and average revenue as the output increases from 0 to 9 units. C. Based on your calculation from question (a), show the quantity and price where the equilibrium condition is found.
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Price L M N 0 K MC ATC MR F G Output The profit-maximizing firm will be earning total revenue of OFIN OFJM OFKL OGHM
Total revenue of the firm is $5100 and the total cost is also $5100 Calculate profits of the firm (B) What is the profit maximization condition of the firm
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Use the cost and revenue data to answer the questions. Quantity Price Total Revenue Total Cost 10 90 900 675 15 80 1200 825 20 70 1400 25 60 1500 30 50 1500 35 40 1400 1025 1250 1500 1850
Quantity Price ($) Total Revenue ($) Marginal Revenue ($) Total Cost ($) Marginal Cost ($) Average Cost($) 2 24 48 23 35 2.5 17.5 4 23 92 21 45 5 11.25 6 22 132 19 60 7.5 10 8 21 168 17 77 8.5 9.63 10 20 200 15 100 11.5 10 12 19 228 13 126 13 10.5 14 18 252 11 165 19.5 11.79 16 17 272 9 210 22.5 13.13 18 16 288 7 260 25 14.44 20 15 300 5 320 30 16 The table above is for a monopolistic competitive firm. What price will the firm charge? Question 19 options: $13 $15 $19 $24
QUESTION 29 PRODUCT product X b) product Y product Z 153 1988 price: $2.00 2,000 O c) 1.2 O d) 150 O e) 200 quantity: price: $1.00 1,000 quantity: price: quantity: $5.00 1,000 1989 $4.00 2.500 $1.00 1,500 $4.00 1,000 YEAR 1990 $6.00 2.000 $1.00 2,500 29. Given the data in the above table, what is the price index for 1991, using 1988 as the base year and using the 1988 consumption pattern (market basket)? O a) 100 $2.00 1,000 1991 $8.00 1.500 $1.00 3,000 $3.00 1,000