User Account

All Pages

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

Related Discussions:- Assignment, economics

Classical model explanation for involuntary unemployment, What is the class...

What is the classical model's explanation for involuntary unemployment? According to the classical model, involuntary unemployment only increases when there is something impedi

Quality of employment , QUALITY OF EMPLOYMENT : Productivity of Emplo...

QUALITY OF EMPLOYMENT : Productivity of Employment  In a poor country like India being employed does not by itself necessarily ensure a decent level of living. In 1999-2000 th

Consumer choice involving risk, CONSUMER CHOICE INVOLVING RISK: The tr...

CONSUMER CHOICE INVOLVING RISK: The traditional theory of consumer behaviour does not include an analysis of uncertain situation. Von Neumann and Morgenstern showed that under

Identify the four essential economic activities, Identify the four essentia...

Identify the four essential economic activities. The four main economic activities are: a)  resource maintenance, b)  production, c)  distribution, and d) consumpti

Economic growth, Economic Growth: Economic Growth refers to an increas...

Economic Growth: Economic Growth refers to an increase in real aggregate output (real GDP) reflected in increased real per capita income. A country is said to experience econo

Elasticity, Xd(Px)=5000-100Px

Xd(Px)=5000-100Px

Time serie, uses of time series in indian economy

uses of time series in indian economy

Problem in measuring depreciation, Economists view depreciation as capital ...

Economists view depreciation as capital consumption for them, there are two distinct ways of charging for depreciation (1) the depreciation of equipment must equal its opportunity

Esalstcity of demand and supply, why is the concept of elasticity crucial t...

why is the concept of elasticity crucial to the study of economics?

Equilibrium, short run equilibrium of the industry

short run equilibrium of the industry

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd