Reference no: EM13201223
the formula for AFC, AVC, ATC, MC, TR, MR
The market price faced by this firm is $6.00 per widget.
a. Fill in the formula for AFC, AVC, ATC, MC, TR, MR, and Total Profit
b. Fill in the missing values for TFC, TVC, AFC, AVC, ATC, MC, TR, MR,
Total Profit Output 0 10 20 30 40 50 60 70 80 90 100
Total Fixed Cost
Total Variable Cost
Total Cost $100 150 180 200 240 300 375 475 600 750 1,000
Average Fixed Cost
Average Variable Cost Average Total Cost
Marginal Cost
Total Revenue
Marginal Revenue
Total Profit
c. Determine the profit maximizing level of output. Explain how you arrived at that conclusion.
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: what is the probability that it alternates between states 1 and 2 for the first four observations (i.e., it occupies state 2, then state 1, then state 2, and finally state 1 again)?
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Explain how to arrive at that conclusion
: the formula for AFC, AVC, ATC, MC, TR, MR The market price faced by this firm is $6.00 per widget. a. Fill in the formula for AFC, AVC, ATC, MC, TR, MR, and Total Profit b. Fill in the missing values for TFC, TVC, AFC, AVC, ATC, MC, TR, MR,
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