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

Why is the car in malaysia expensive? the effect if the pric, how to make a...

how to make a stand based on question?

Production having two outputs - economies of scope, Production having Two O...

Production having Two Outputs -Economies of Scope *  Economies of scope exist when joint output of a single firm is greater than the output which could be achieved by two diffe

Economics, define economics in plural sense. .

define economics in plural sense. .

Vectors, given that a=(4;2) and b=(5;11)determine the value of x in the fol...

given that a=(4;2) and b=(5;11)determine the value of x in the following equation b=3x-1/2a

Growth of production, GROWTH OF PRODUCTION: The performance of Indian ...

GROWTH OF PRODUCTION: The performance of Indian agriculture during more than half a century of planned economic development can be broadly characterised by three distinct phas

Why concept of elasticity is important in economics, Why concept of Elastic...

Why concept of Elasticity is important in economics?  Elasticity is very important concept in economics because it affects the decision of individuals as well as of the whole e

Explain the generalised least square procedure, (a) What is  meant by heter...

(a) What is  meant by heteroscedasticity and what are the consequences of applying OLS estimation in its presence? (b) Explain in details the Generalised least Square procedure

Monopoly and perfect competition, will post picture

will post picture

Microeconomics, when the demand function is 2q-24+3p=0,find marginal revenu...

when the demand function is 2q-24+3p=0,find marginal revenue when q=3

Criteria for acceptability, The goal is to replicate a real life product de...

The goal is to replicate a real life product development and familiarize students with the invent process of a system, component, or process to meet desired wants within realistic

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: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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