In which market structure does Johnson Electronics (Pty) Ltd operate? Provide a reason for your answer and what level of output maximizes the firm’s profit? Provide the reason for your answer output price total revenue average cost total cost margnial cost profit/ loss 10 10.00 100 20.80 208 0 -108 20 10.00 200 12.40 248 4.00 -48 30 10.00 300 9.90 297 5.00 3 40 10.00 400 9.00 360 6.20 40 50 10.00 500 8.80 440 8.00 60 60 10.00 600 9.00 540 10.00 60

In which market structure does Johnson Electronics (Pty) Ltd operate? Provide a reason for your answer and what level of output maximizes the firm’s profit? Provide the reason for your answer output price total revenue average cost total cost margnial cost profit/ loss 10 10.00 100 20.80 208 0 -108 20 10.00 200 12.40 248 4.00 -48 30 10.00 300 9.90 297 5.00 3 40 10.00 400 9.00 360 6.20 40 50 10.00 500 8.80 440 8.00 60 60 10.00 600 9.00 540 10.00 60

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter10: Prices, Output, And Strategy: Pure And Monopolistic Competition

Section: Chapter Questions

Problem 9E

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output	price	total revenue	average cost	total cost	margnial cost	profit/ loss
10	10.00	100	20.80	208	0	-108
20	10.00	200	12.40	248	4.00	-48
30	10.00	300	9.90	297	5.00	3
40	10.00	400	9.00	360	6.20	40
50	10.00	500	8.80	440	8.00	60
60	10.00	600	9.00	540	10.00	60