Question
Marginal Analysis, please show the work!:) Q P  
Marginal Analysis, please show the work!:)
Q P TR TC MR MC MR - MC
20 150 1100
21 165 1400
22 180 1780
23 170 2150
24 185 2800
A. What is the marginal revenue from selling the 24th unit of output? What is the marginal cost for producing the 20th unit of output? What is the marginal profit at 23 units of output?
D. At what level of output are profits maximized?
E. What is the optimum selling price?
Homework Answers
Answer #1
Using the formula, TR = Price*Quantity, MR = TR(n)-TR(n-1), MC= TC(n)-TC(n-1) we fill the table
A.
Marginal revenue for 24th unit of output = 530
Marginal cost for producing 20th unit of output can't be calculated since we are not given with 19th unit information.
Marginal profit at 23 units = -420 ( More like loss)
D.
At 22, since after this 23 and 24 has MC > MR.
22 can be considered as optimum unit level.
E.
At 22, Selling price = P = 185
PLEASE LEAVE A LIKE. IT REALLY HELPS ME A LOT. THANK YOU!!!
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