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 5 27 135 27 27 135 0 10 24 240 24 21 197 43 15 21 315 21 15 252 63 20 18 360 18 9 300 60 25 15 375 15 3 345 30 30 12 360 12 -3 383 -23 35 9 315 9 -9 428 -113 40 6 240 6 -15 478 -238 45 3 135 3 -21 533 -398 50 0 0 0 -27 593 -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 5 27 135 27 27 135 0 10 24 240 24 21 197 43 15 21 315 21 15 252 63 20 18 360 18 9 300 60 25 15 375 15 3 345 30 30 12 360 12 -3 383 -23 35 9 315 9 -9 428 -113 40 6 240 6 -15 478 -238 45 3 135 3 -21 533 -398 50 0 0 0 -27 593 -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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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 | |
5 | 27 | 135 | 27 | 27 | 135 | 0 | |
10 | 24 | 240 | 24 | 21 | 197 | 43 | |
15 | 21 | 315 | 21 | 15 | 252 | 63 | |
20 | 18 | 360 | 18 | 9 | 300 | 60 | |
25 | 15 | 375 | 15 | 3 | 345 | 30 | |
30 | 12 | 360 | 12 | -3 | 383 | -23 | |
35 | 9 | 315 | 9 | -9 | 428 | -113 | |
40 | 6 | 240 | 6 | -15 | 478 | -238 | |
45 | 3 | 135 | 3 | -21 | 533 | -398 | |
50 | 0 | 0 | 0 | -27 | 593 | -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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