1) Complete the table. Price Quantity Total Marginal Fixed Demanded Revenue Revenue Cost 18 600 17 700 16 800 15 900 14 1000 13 1100 12 1200 500 500 500 500 500 500 500 Variable Total Cost Cost 5210 5640 6135 6700 7335 8060 8900 Average Variable Marginal Cost Cost MR-MC Profit Percent Contribution Margin

1) Complete the table. Price Quantity Total Marginal Fixed Demanded Revenue Revenue Cost 18 600 17 700 16 800 15 900 14 1000 13 1100 12 1200 500 500 500 500 500 500 500 Variable Total Cost Cost 5210 5640 6135 6700 7335 8060 8900 Average Variable Marginal Cost Cost MR-MC Profit Percent Contribution Margin

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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