Question
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
Homework Answers
Answer #1
Fixed Cost = 6 i.e Total Cost at 0 demand
Total revenue = Price x Demand
Marginal revenue = TRx-TRx-1
Marginal Cost = TCx-TCx-1
Average Total Cost = Total Cost / Demand
Average Fixed Cost = (Total Cost - 6)/ Demand
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