Complete the following table of basic calculations. For Percent Contribution Margin, use (P-MC)/P. Round to the table standard. Table of Basic Calculations Price Quantity Demanded Total Revenue Marginal Revenue Variable Cost Total Cost Average Variable Cost Marginal Cost Profit Percent Contribution Margin 18 600 10800 5210 5710 8.68 5090 17 11900 11 6140 8.06 4.30 5760 0.75 16 800 12800 9 6135 7.67 4.95 6165 15 900 13500 6700 7200 7.44 5.65 6300 0.62 14 1000 14000 5 7335 7835 6.35 6165 13 1100 14300 3 8060 8560 7.33 0.44 1200 14400 1 8900 9400 7.42 8.40 5000 0.30

Complete the following table of basic calculations. For Percent Contribution Margin, use (P-MC)/P. Round to the table standard. Table of Basic Calculations Price Quantity Demanded Total Revenue Marginal Revenue Variable Cost Total Cost Average Variable Cost Marginal Cost Profit Percent Contribution Margin 18 600 10800 5210 5710 8.68 5090 17 11900 11 6140 8.06 4.30 5760 0.75 16 800 12800 9 6135 7.67 4.95 6165 15 900 13500 6700 7200 7.44 5.65 6300 0.62 14 1000 14000 5 7335 7835 6.35 6165 13 1100 14300 3 8060 8560 7.33 0.44 1200 14400 1 8900 9400 7.42 8.40 5000 0.30

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter16: Information, Risk, And Insurance

Section: Chapter Questions

Problem 18RQ: What are some of the metrics economists use to measure health outcomes?

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Question

Complete the following table of basic calculations. For Percent Contribution Margin, use (P-MC)/P.

Round to the table standard.

Table of Basic Calculations

Price	Quantity Demanded	Total Revenue	Marginal Revenue	Variable Cost	Total Cost	Average Variable Cost	Marginal Cost	Profit	Percent Contribution Margin
18	600	10800		5210	5710	8.68		5090
17		11900	11		6140	8.06	4.30	5760	0.75
16	800	12800	9	6135		7.67	4.95	6165
15	900	13500		6700	7200	7.44	5.65	6300	0.62
14	1000	14000	5	7335	7835		6.35	6165
13	1100	14300	3	8060	8560	7.33			0.44
	1200	14400	1	8900	9400	7.42	8.40	5000	0.30

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