What must be the production level ifnbspfixed costs rose to

Reference no: EM13389911

A software producer has fixed costs of $120,000 per month and her Total Variable Costs (TVC) as a function of output Q are given below. Complete the table (TC, MC, TR, and MR), then answer Parts A and B.

Q                      TVC                             Price

1,000               $115,000                            $125

2,000               120,000                              74

3,000               130,000                              55

4,000               150,000                              44

5,000               180,000                              30

(a.) If software can only be produced in the quantities above, what should be the production level if the producer operates in a monopolistic competitive market where the price of software at each possible quantity is also listed above? Why? (Show all work.)

(b.) What should be the production level if fixed costs rose to $160,000 per month? Explain.

Reference no: EM13389911

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