Exhibit HW2.4: Total Revenues and Total Costs for a Representative Competitive FirmMoneycaTCC61TRC6-GivenD'Q1 = |2|5Q203 = |8Q4= |11C5 -TFC = |S1.60C1=|S4.00C3=|S10.00C4 S11.20C5 S16.00Cổ =S22.00Cól=S30.40C3iBC2C1TFCQ1 Q2Q304Refer to Exhibit HW2.4. If output is Q1, market price is aboutO $2.30O $2.00$2.20S2.10

Given: Value of Q1 is 2. Value of C1 is $4. Value of TFC= $1.60

Erhibit HW2.4: Total Revenues and Total Costs for a Representative Competitive Firm Money TC C61 TR C6 E DI Given Q1 Q2=5 Q3=8 Q4= 11 %3D %3D C5 -- TFC S1.60 %3D S4.00 %D C2 S8.20 C4 C3 = S10.00 s11.20 C5 = |S16.00 C3 C4 iB C2 C1 Có S22.00 %3D TFC HA C61 = S30.40 Q1 Q2 Q3 Q4 Refer to Exhibit HW2.4. If output is Q1, market price is about O$2.30 O$2.00 O$2.20 $2.10

Erhibit HW2.4: Total Revenues and Total Costs for a Representative Competitive Firm Money TC C61 TR C6 E DI Given Q1 Q2=5 Q3=8 Q4= 11 %3D %3D C5 -- TFC S1.60 %3D S4.00 %D C2 S8.20 C4 C3 = S10.00 s11.20 C5 = |S16.00 C3 C4 iB C2 C1 Có S22.00 %3D TFC HA C61 = S30.40 Q1 Q2 Q3 Q4 Refer to Exhibit HW2.4. If output is Q1, market price is about O$2.30 O$2.00 O$2.20 $2.10

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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