Do the Math: Programs sell for $56. Marginal Marginal Total # of Total Programs Fixed Total Total Variable Costs Costs Revenue Costs Costs 0 $60 $0 12345698 $60 $45 $45 $56 $60 $85 $56 $60 $120 $56 $60 $150 $56 $60 $185 $56 $60 $225 $56 $60 $270 $56 $60 $325 $56 $60 $390 $56 10 $60 $465 $56 Profit Revenue 1. How many software programs should Andrea sell to make the most profit? What would her profit be? What is the marginal revenue for this number of programs? The marginal cost? 2. If Andrea sold one more software program than your answer to #1, what would her profit be? What is the marginal revenue for this number of programs? The marginal cost?
Do the Math: Programs sell for $56. Marginal Marginal Total # of Total Programs Fixed Total Total Variable Costs Costs Revenue Costs Costs 0 $60 $0 12345698 $60 $45 $45 $56 $60 $85 $56 $60 $120 $56 $60 $150 $56 $60 $185 $56 $60 $225 $56 $60 $270 $56 $60 $325 $56 $60 $390 $56 10 $60 $465 $56 Profit Revenue 1. How many software programs should Andrea sell to make the most profit? What would her profit be? What is the marginal revenue for this number of programs? The marginal cost? 2. If Andrea sold one more software program than your answer to #1, what would her profit be? What is the marginal revenue for this number of programs? The marginal cost?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Do the Math: Programs sell for $56.
Marginal Marginal Total
# of
Total
Programs Fixed
Total
Total
Variable
Costs
Costs
Revenue
Costs
Costs
0
$60
$0
12345698
$60
$45
$45
$56
$60
$85
$56
$60
$120
$56
$60
$150
$56
$60
$185
$56
$60
$225
$56
$60
$270
$56
$60
$325
$56
$60
$390
$56
10
$60
$465
$56
Profit
Revenue
1. How many software programs should Andrea sell to make the most profit?
What would her profit be?
What is the marginal revenue for this number of programs?
The marginal cost?
2. If Andrea sold one more software program than your answer to #1, what
would her profit be?
What is the marginal revenue for this number of programs?
The marginal cost?
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