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

Energies of the diametric molecules of a gas, Energies of the diametric mol...

Energies of the diametric molecules of a gas, chemistry assignments The analysis basis for treating these different types of motion can be seen by describing the motion of a di

Determine the change in unemployment - okun''s law, 1. Utilize Okun's law ...

1. Utilize Okun's law to answer the questions below; u t  - u t-1  = -0.4(g yt  - 3%) Assuming u t-1  = 7% a. Calculate the change in u (u t  - u t-1 ) for each of the follo

Chapter 8, once vaccinated,a person cannot catch a cold or give a cold to s...

once vaccinated,a person cannot catch a cold or give a cold to someone else. As a result,the marginal social benefit resulting from consumption of the vaccine.

Policy orientation for private sector investment, Policy Orientation for Pr...

Policy Orientation for Private Sector Investment The policy perspective in the matter of funding is undergoing a steady transformation aimed at according an increasing role to

Demand, what are tne methots of demand forecasting ?

what are tne methots of demand forecasting ?

Computers , During the 1990s, technological advance reduced the cost of com...

During the 1990s, technological advance reduced the cost of computer chips. Explain, with the use of supply and demand diagrams, how the following markets are affected in terms of

Explain the issue using a ppf, A country s choice among the production of e...

A country s choice among the production of education and nuclear submarines is an issue of opportunity cost. Explain the issue using a PPF. Resources are limited whereas

Returns from education, Returns from Education Monetary benefits from ...

Returns from Education Monetary benefits from education are called as returns. Such benefits accruing to an individual are called as private returns. The sum of all private re

Write Your Message!

Captcha
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!

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