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Government artificially sets the price of units

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Reference no: EM131413821

Suppose the government artificially sets the price of units to $20. At this price is the company willing to sell the product. Please explain why or why not.

Quantity (Q)

Price (P)

Total Revenue (TR)

Marginal Revenue (MR)

Total Cost (TC)

Average Cost (AC)

Marginal Cost (MC)

Profit

0

60

0

X

100000

X

X

100000

1000

55

55000

55

106000

106

6

51000

2000

50

100000

45

114000

57

8

14000

3000

45

135000

35

124000

41

10

11000

4000

40

160000

25

136000

34

12

24000

5000

35

175000

15

150000

30

14

25000

6000

30

180000

5

166000

28

17

14000

7000

25

175000

5

184000

25

18

9000

8000

20

160000

15

204000

25

20

44000

9000

15

135000

25

226000

25

22

91000

10000

10

100000

35

250000

25

24

150000

Reference no: EM131413821

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