Complete the table below and graph the AR, MR, MC, and AC Q price TR AR MR TC MC Profit 0 30 0 0 0 70 70 -70 5 27 135 27 27 135 65 0 10 24 240 24 21 197 62 43 15 21 315 21 15 252 55 63 20 18 360 18 9 300 48 60 25 15 375 15 3 345 45 30 30 12 360 12 -3 383 38 -23 35 9 315 9 -9 428 45 -113 40 6 240 6 -15 478 50 -238 45 3 135 3 -21 533 55 -398 50 0 0 0 -27 593 60 -593 Provide a brief explanation of the firm's behavior to set production at 20 units at the price of P18 per unit
Complete the table below and graph the AR, MR, MC, and AC Q price TR AR MR TC MC Profit 0 30 0 0 0 70 70 -70 5 27 135 27 27 135 65 0 10 24 240 24 21 197 62 43 15 21 315 21 15 252 55 63 20 18 360 18 9 300 48 60 25 15 375 15 3 345 45 30 30 12 360 12 -3 383 38 -23 35 9 315 9 -9 428 45 -113 40 6 240 6 -15 478 50 -238 45 3 135 3 -21 533 55 -398 50 0 0 0 -27 593 60 -593 Provide a brief explanation of the firm's behavior to set production at 20 units at the price of P18 per unit
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Complete the table below and graph the AR, MR, MC, and AC
Q |
price |
TR |
AR |
MR |
TC |
MC |
Profit |
0 |
30 |
0 |
0 |
0 |
70 |
70 |
-70 |
5 |
27 |
135 |
27 |
27 |
135 |
65 |
0 |
10 |
24 |
240 |
24 |
21 |
197 |
62 |
43 |
15 |
21 |
315 |
21 |
15 |
252 |
55 |
63 |
20 |
18 |
360 |
18 |
9 |
300 |
48 |
60 |
25 |
15 |
375 |
15 |
3 |
345 |
45 |
30 |
30 |
12 |
360 |
12 |
-3 |
383 |
38 |
-23 |
35 |
9 |
315 |
9 |
-9 |
428 |
45 |
-113 |
40 |
6 |
240 |
6 |
-15 |
478 |
50 |
-238 |
45 |
3 |
135 |
3 |
-21 |
533 |
55 |
-398 |
50 |
0 |
0 |
0 |
-27 |
593 |
60 |
-593 |
Provide a brief explanation of the firm's behavior to set production at 20 units at the price of P18 per unit
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