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!!!
Not the answer you're looking for?
Similar Questions
Q P  
Q
P
TC
TR
MR
MC
TP
(OUTPUT)
(PRICE)
(TOTAL
COST)
0
10
10
NA
NA
1
10
20
2
10
24
3
10
30
4
10
38
5
10
48
6
10
60
7
10
90
COMPLETE THE
TABLE: (NOTE
TR TOTAL REVENUE: MR MARGINAL COST; TP TOTAL PROFITS)
PLEASE SHOW ME HOW YOU GET THE RESULT DONT JUST WRITE THE
ANSWERS.
2. By using profit maximizing condition (you should use MR and
MC ) identify...
Q TR MR
Q
TR
MR
TC
MC
ATC
0
0
-
100
-
-
1
200
200
200
100
200
2
400
200
350
150
175
3
600
200
550
200
183.3
4
800
200
800
250
200
5
1000
200
1100
300
220
Quantity of Visits (Q)
Total Revenue (TR)
Marginal Revenue (MR)
Total Costs (TC)
Marginal Cost (MC)
Average Total Cost (ATC)
In a MS Word document, define total revenue (TR), marginal
revenue (MR), and the profit-maximizing rule for...
2.) For a price-searcher, assume the demand curve is Q = 20 - P. a.) ...
2.) For a price-searcher, assume
the demand curve is Q = 20 - P.
a.) Construct a
four-column table of P and Q with P ranging from 20 to
0. Calculate TR and MR and add them to your table.
b.) Graph D and MR. (Plot
points—with $ on the vertical axis and Q on the horizontal
axis.)
c.) Why is P > MR
(after the first unit)
3.) Using the same
price-searcher, assume the firm faces the...
The reason price equals marginal revenue in a competitive market is that: the law prohibits marginal...
The reason price equals marginal revenue in a competitive market
is that:
the law prohibits marginal revenue from diverging from market
price.
marginal revenue always is equal to marginal cost.
since price is constant, the added revenue from selling one more
unit is the price.
consumer advocacy groups maintain a steady price.
If MR is greater than MC, then:Which of the following statements
regarding marginal revenue for a competitive firm is correct?
It is never used to determine a firm's...
Given the following information for a monopolistic competitor: Demand: P = 68 – 7(Q) Marginal revenue:...
Given the following information for a monopolistic
competitor:
Demand: P = 68 – 7(Q)
Marginal revenue: MR = 68 – 14(Q)
Marginal cost: MC = 2(Q) + 8
Average total cost at equilibrium is 22
1. At what output (Q) will this firm maximize
profit?
2. At what price (P) will this firm maximize
profit?
3. What is the total revenue (TR) earned at this output
level?
4. What is the total cost (TC) accrued at this
output?
5. What...
economic of health and medical care In a MS Word document, define total revenue (TR), marginal...
economic of health and medical care
In a MS Word document, define total revenue (TR), marginal
revenue (MR), and the profit-maximizing rule for a single
investor-owned firm. Then calculate MR, MC, and ATC for Table 3.1.
Next, give the profit-maximizing level of output (Q).
Now, assume the firm is a tax-exempt agency. One possibility is
that tax-exempt agencies maximize output. Define the
output-maximization rule and then give the output-maximizing level
of output (Q) given Table 3.1. What happens to the...
Barbara is a producer in a monopoly industry. Her demand curve, total revenue curve, marginal revenue...
Barbara is a producer in a monopoly industry. Her demand curve,
total revenue curve, marginal revenue curve, and total cost curve
are given as follows Q = 160 – 4P TR – 40Q – 0.25Q² MR = 40 – 0.5Q
TC = 4Q MC = 4
Answer the following three questions: (You don't need to show
your work, just type your answer as a number) a) What is the
optimum output for Barbara? b) What is the market price? c)...
Q 6 Given the following data. Quantity 0 1 2 3 4 5 6 7 8...
Q 6
Given the following data.
Quantity
0
1
2
3
4
5
6
7
8
Price
8
8
8
8
8
8
8
8
8
Total cost
8
20
23
24
32
40
48
56
64
(a) Generate the following information; Total Revenue (TR),
Marginal Revenue (MR), Average Revenue (AR), Marginal Cost (MC),
Average Cost (AC) and Total profits at each level of output.
(b) Draw the graphs of the Total Revenue and Total Cost, at what
point is...
Could someone do parts A) and B) please? The following information is for a monopoly: P...
Could someone do parts A) and B) please?
The following information is for a monopoly:
P
Q
TR
TC
MR
MC
6
0
1
5
1
3
4
2
6
3
3
10
2
4
15
1
5
21
0
6
28
a) Fill in the above table. At what quantity does this firm
maximize profits? At what price does this firm sell its output?
Draw a graph to illustrate profit maximization.
b) Explain the two effects on total revenue...
Assume an Unregulated Monopolist with the following demand and cost data. Q P TR MR Q...
Assume an Unregulated Monopolist with the following demand and
cost data.
Q
P
TR
MR
Q
TC
MC
Profit / loss
0
130
0
50
1
120
1
90
2
110
2
120
3
100
3
140
4
90
4
170
5
80
5
210
6
70
6
260
7
60
7
320
8
50
8
390
9
40
9
470
#1) How much should the firm produce in order to maximize
profits?
#2) What price will the firm charge?...
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 46 seconds ago
asked 18 minutes ago
asked 22 minutes ago
asked 24 minutes ago
asked 47 minutes ago
asked 47 minutes ago
asked 52 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago