Find the total revenue and marginal revenue schedules for the firm and complete the following table. Price/ Pounrd Quanitity TR MR 25 0 0 18 1,000 18,000 18.00 16 2,000 14 3,000 12 4,000 10 5,000 8 6,000 6 7,000 4 8,000 2 9,000
Find the total revenue and marginal revenue schedules for the firm and complete the following table.
| 25 | 0 | 0 | |
| 18 | 1,000 | 18,000 | 18.00 |
| 16 | 2,000 | ||
| 14 | 3,000 | ||
| 12 | 4,000 | ||
| 10 | 5,000 | ||
| 8 | 6,000 | ||
| 6 | 7,000 | ||
| 4 | 8,000 | ||
| 2 | 9,000 |
Fixed costs of manufactoring beryllium are $14,000 per period. The firm's variable cost schedule is as follows:
Determine the
Output VC TC MC
| 0 | 0 | 0 | |
| 1,000 | 10.00 | 24,000 | 24.00 |
| 2,000 | 8.50 | ||
| 3,000 | 7.33 | ||
| 4,000 | 6.25 | ||
| 5,000 | 5.40 | ||
| 6,000 | 5.00 | ||
| 7,000 | 5.14 | ||
| 8,000 | 5.88 | ||
| 9,000 | 7.00 |
Exotic Metals maximizes profits when the price is $ per pound and the output level is pounds per peroid.
What is Exotic's profit (or Loss) at the profit-maximizing output level?
Suppose that the federal government annouces it will sell beryllium, from its extensive wartime stockpile, to anyone who wants it at $5.98 per pound. Under these conditions, Exotic Metals maximizes profits by producing per pounds per period.
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