Assignment, economics, In the table below are given the output (X), T.C., and Price for a, Microeconomics

Assignment, economics, Microeconomics

Assignment Help:

In the table below are given the output (X), T.C., and Price for a firm. Complete the following table, and then answer the questions at the bottom of the table.

X T.C P=A.R.=52, T.R, A.T.C, M.C, M.R, Profit
0      72
1      90
2     112
3     138
4     168
5      202
6      240
7      282
8      328
9      378
10    432

A. The profit maximization level of output (PMS) for a price of $52 is __________units of output with a (profit/loss) _______ of $ ________

B. At various prices below, indicate the Quantity Supplied and its corresponding Profit or Loss (exact amount)

Price Quantity Supplied Profit or Loss (exact)

54
46
42
38
34
26

Monopoly Problem

Mark Cherry and Eric Jones jointly patented a method for manufacturing Adam Smith bobble head dolls. The plan is for a very limited production run. They investigate the potential market for this unique novelty and find their sales and total cost schedules to be as follows: (The costs include a licensing fee to the estate of Adam Smith)

Sales Unit Price Total Cost
0 200 140
1 180 170
2 160 200
3 140 220
4 120 250
5 100 300
6 80 380

A) Calculate their TR, MR, ATC, MC and profit/loss schedules

B) Determine the equilibrium price, equilibrium output, unit profit, and total profit at the equilibrium point for these ingenious entrepreneurs.

42 __________ ________

38 __________ ________

34 __________ ________

26

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages

Assignment, economics, Microeconomics

Related Discussions:- Assignment, economics

Williamson''s model, williomson''s model of managerial discretion

What is Critical Temperature?, What is What is Critical Temperature? Why Cr...

Labour Economics, Sally recently finished her full time training and receiv...

Case Study debeers diamonds monoply, Solution of this case study

Revenues, Ask qdescribe average and marginal revenue under imperfect compet...

Shell, pest

Physical capital, Physical Capital: A tangible tool, machine, building or o...

When is tax to society cause a deadweight loss, When is tax to society caus...

What do you meant by enclosures, Q. What do you meant by Enclosures? En...

Taxation.., functions of taxes

Write Your Message!

Featured Services

Online Tutoring

Project Development

Exam Preparation

Course Help

Assignment Help

Popular Subjects

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT