DISCUSSION QUESTIONS (S) . 2400- (S). (5) TR Make a rough sketch of the graph in your notes, and answer the following questions: 1. What sales interval would keep the company profitable? What do we call these values? 2. Superimpose the total profit (TP) curve over the TR and TC curves. What would the sales level have to be to 1800 TC 1200 600 20 40 60 80 100 obtain maximum profits? Estimate the slopes on the TR and TC curves at this level of sales. Should they be the Boxes Sold/Week same? Why or why not? 3. On a separate set of axes, sketch the marginal profit (the extra profit earned by selling one more box of dTP dx chocolates), MP = . What can you say about the %3D marginal profit as the level of sales progresses from just less than the maximum to the maximum, and then to just above the maximum? Does this make sense? Explain. TR, TC, TP, ($)

DISCUSSION QUESTIONS (S) . 2400- (S). (5) TR Make a rough sketch of the graph in your notes, and answer the following questions: 1. What sales interval would keep the company profitable? What do we call these values? 2. Superimpose the total profit (TP) curve over the TR and TC curves. What would the sales level have to be to 1800 TC 1200 600 20 40 60 80 100 obtain maximum profits? Estimate the slopes on the TR and TC curves at this level of sales. Should they be the Boxes Sold/Week same? Why or why not? 3. On a separate set of axes, sketch the marginal profit (the extra profit earned by selling one more box of dTP dx chocolates), MP = . What can you say about the %3D marginal profit as the level of sales progresses from just less than the maximum to the maximum, and then to just above the maximum? Does this make sense? Explain. TR, TC, TP, ($)

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 5PA

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