Question
Output Total Revenue Total Cost 0 $0 $50 1 40 74 2 80 94 3 120...
| Output | Total Revenue | Total Cost |
| 0 | $0 | $50 |
| 1 | 40 | 74 |
| 2 | 80 | 94 |
| 3 | 120 | 117 |
| 4 | 160 | 142 |
| 5 | 200 | 172 |
The table gives data for a purely competitive, profit-maximizing firm. Based on this information, in the short run how much is this firm earning in economic profit (or losing, as reflected by negative numbers)?
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Answer #1
28
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Similar Questions
COSTS REVENUES Quantity Produced Total Cost Marginal Cost Quantity Demanded Price Total Revenue Marginal Revenue 0...
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Quantity
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Total
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Quantity
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0
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--
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Output(units) Total Revenue($) Total Cost($) 0 0 25 1 30 49 2 60 69 3 90...
Output(units)
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0
0
25
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Using the table above, May you please show the
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Which gives the total revenue schedule and total cost
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COSTS
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Quantity
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Total
Cost
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Cost
Quantity
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Price
Total
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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
$465
7
$80
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$585
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$80
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What is interesting about the numbers you find...
The table below shows output, fixed, variable, and total costs for a firm in a perfectly...
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Output
Fixed Cost (FC)
Variable Cost (VC)
Total Cost (TC)
Avg. Fixed Cost (AFC)
Avg. Variable Cost (AVC)
Avg. Total Cost (ATC)
Marginal Cost (MC)
0
5
0
1
7
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10
3
9
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19
5
25
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Output Total
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Profit
MR
MC ATC
(per hour)__($ per
hour)
_______________________________________________
0
10
0
-10
-
-
-
1
12
10
2
10
2
12
2
16
20
4
10
2
8
3
21
30
9
10
1.67
7
4
30
40
10
10
2.25
7.5
5
45
50
5
10
3
9
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Output
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Marginal cost
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Marginal revenue
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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
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10
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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
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/Loss
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3
0
-
-
-
0
-
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1
6
2
12
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21
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49
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0
50
--
--
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120
7=(120-50)/(10-0)
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20
170
?
?
30
210
?
?
40
260
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?
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330
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60
430
?
?
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