Question

Marginal Analysis, please show the work!:) Q                  P                &nbsp

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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