Question
Output Total cost Marginal cost Quantity demanded Price Marginal revenue Profit 0 $ 50 XXXX 0 $60...
|
Output |
Total cost |
Marginal cost |
Quantity demanded |
Price |
Marginal revenue |
Profit |
|
0 |
$ 50 |
XXXX |
0 |
$60 |
XXXXX |
$ |
|
1 |
80 |
$ |
1 |
55 |
$ |
|
|
2 |
120 |
2 |
50 |
|||
|
3 |
150 |
3 |
45 |
|||
|
4 |
170 |
4 |
40 |
|||
|
5 |
185 |
5 |
35 |
|||
|
6 |
205 |
6 |
30 |
|||
|
7 |
235 |
7 |
25 |
|||
|
8 |
275 |
8 |
20 |
|||
|
9 |
325 |
9 |
15 |
|||
|
10 |
385 |
10 |
10 |
Assume that the short-run cost and demand data given in the table below confronts a monopolistic competitor selling a given product and engaged in a given amount of product promotion. Compare the marginal cost and marginal revenue of each unit of output and enter these figures in the table.
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Answer #1
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Similar Questions
COSTS REVENUES Quantity Produced Total Cost Marginal Cost Quantity Demanded Price Total Revenue Marginal Revenue 0...
COSTS
REVENUES
Quantity
Produced
Total
Cost
Marginal
Cost
Quantity
Demanded
Price
Total
Revenue
Marginal
Revenue
0
$0
--
0
$80
0
--
1
$50
50
1
$80
80
80
2
$102
52
2
$80
160
80
3
$157
55
3
$80
240
80
4
$217
60
4
$80
320
80
5
$285
68
5
$80
400
80
6
$365
80
6
$80
480
80
7
$465
97
7
$80
560
80
8
$585
120
8
$80
640
80
b) What...
Quantity Total Marginal &n
Quantity
Total
Marginal
Demanded
Price
revenue
revenue
1
$325 $______
2
300
______
$______
3
275
______
______
4
250
______
______
5
225
______
______
6
200
______
______
7
175
______
______
8
150
______
______
9
125
______
______
10
100
______
______
11
75
______
______
12
50
______
______
13
25
______
______
14
0
______
______
(a) What...
Complete the following cost and revenue schedule: Price Quantity Demanded Total Revenue Marginal Revenue Total Cost...
Complete the following cost and revenue schedule:
Price
Quantity Demanded
Total Revenue
Marginal Revenue
Total Cost
Marginal Cost
Average Total Cost
20
0
8
18
1
14
16
2
22
14
3
32
12
4
44
10
5
58
8
6
74
6
7
92
4
8
112
2
9
147
a. Graph the demand, MR, and MC curves.
b. At what rate of output are profits maximized within this
range?
c. What are the values of MR and MC...
Suppose you are given the following table: Output Price Total Cost Total Revenue Marginal Revenue Marginal...
Suppose you are given the following table:
Output
Price
Total Cost
Total Revenue
Marginal Revenue
Marginal Cost
Average Total Cost
Profit/
Loss
(P-ATC)
0
150
100
1
138
150
2
125
184
3
113
208
4
100
227
5
88
250
6
75
280
7
63
318
8
50
366
9
38
425
10
25
500
a. Determine the optimum /profit maximizing point using the
MR-MC Principle
b. At this point, what are the total profits?
c. Calculate (Price -...
Price Quantity Demanded Total Revenue Marginal Revenue Total Cost Marginal Cost Average Total Cost Average Variable...
Price
Quantity Demanded
Total Revenue
Marginal Revenue
Total Cost
Marginal Cost
Average Total Cost
Average Variable Cost
$20
0
$6
18
1
12
16
2
20
14
3
30
12
4
42
10
5
56
8
6
72
please fill out entire table
Price Quantity Demanded Total Fixed Cost Total Variable Cost Total Revenue Total Cost Marginal Revenue Marginal...
Price
Quantity
Demanded
Total
Fixed Cost
Total
Variable Cost
Total Revenue
Total Cost
Marginal Revenue
Marginal Cost
$50
0
$8
$0
(C)
(H)
45
1
8
20
(D)
(I)
(L)
(R)
40
2
(A)
30
(E)
(J)
(M)
(S)
35
3
8
55
105
63
(N)
(T)
30
4
8
(B)
(F)
93
(P)
(U)
25
5
8
125
(G)
(K)
(Q)
(V)
The profit-maximizing single-price monopolist will produce _____
units.
Table 14-12 Bill’s Birdhouses COSTS REVENUES Quantity Produced Total Cost Marginal Cost Quantity Demanded Price Total...
Table 14-12
Bill’s Birdhouses
COSTS
REVENUES
Quantity
Produced
Total
Cost
Marginal
Cost
Quantity
Demanded
Price
Total
Revenue
Marginal
Revenue
0
$0
--
0
$80
--
1
$50
1
$80
2
$102
2
$80
3
$157
3
$80
4
$217
4
$80
5
$285
5
$80
6
$365
6
$80
7
$462
7
$80
8
$582
8
$80
Refer to Table 14-12. At what quantity does
Bill maximize profits?
a.
7
b.
8
c.
3
d.
6
Exhibit 21-19 Quantity Sold Total Revenue Price (units) Total Cost Marginal Costs Marginal Revenue $10 10...
Exhibit 21-19
Quantity Sold
Total Revenue
Price
(units)
Total Cost
Marginal Costs
Marginal Revenue
$10
10
$80
--
100
--
9
20
100
2
180
80
8
30
130
3
240
60
7
40
170
4
280
40
6
50
230
6
300
20
5
60
300
7
300
0
4
70
380
8
280
-20
Refer to Exhibit 21-19. Fill in the missing values. Assume this
is a single-price monopolist who is seeking to maximize profits.
How many units...
Quantity Total Revenue Marginal Revenue Total Cost Marginal Cost Fixed Costs ATC Average Fixed Costs Average...
Quantity
Total Revenue
Marginal Revenue
Total Cost
Marginal Cost
Fixed Costs
ATC
Average Fixed Costs
Average Variable Costs
0
0
-
10
-
10
-
-
-
1
8
24
14
24
2
16
34
10
17
3
24
42
8
14
4
32
49
7
12.25
5
40
57
8
11.4
6
48
67
10
11.17
7
56
81
14
11.57
8
64
99
18
12.38
9
72
123
24
13.67
f. You have now removed the fixed costs...
The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a...
The table below shows the total cost (TC) and marginal cost (MC)
for Choco Lovers, a monopolistic firm producing different
quantities of chocolate gift boxes. Fill in the blanks in the
table.
Quantity
Price
Total REVENUE
TOTAL COST
MARGINAL COST
MARGINAL REVENUE
0
$19
$0
$30
-
-
25
18
450
205
$7
30
510
237.5
6.5
12
35
16
272.5
10
40
15
600
312.5
8
8
45
14
630
10
50
13
650
422.5
12
4
INSTRUCTIONS; ENTER...
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