Given the following profit-loss schedule in the short run, how many units should a firm produce? Quantity Marginal Revenue Total Cost Marginal Cost Average Total Cost 0 2 15 - - 1 2 19.75 4.75 19.75 2 2 23.5 3.75 11.75 3 2 26.5 3 8.83 4 2 29 2.5 7.25 5 2 31 2 6.20 6 2 32.5 1.5 5.42 7 2 33.75 1.25 4.82 8 2 35.25 1.5 4.41 9 2 37.25 2 4.14 10 2 40 2.75 4.00 11 2 43.25 3.25 3.93
Given the following profit-loss schedule in the short run, how many units should a firm produce? Quantity Marginal Revenue Total Cost Marginal Cost Average Total Cost 0 2 15 - - 1 2 19.75 4.75 19.75 2 2 23.5 3.75 11.75 3 2 26.5 3 8.83 4 2 29 2.5 7.25 5 2 31 2 6.20 6 2 32.5 1.5 5.42 7 2 33.75 1.25 4.82 8 2 35.25 1.5 4.41 9 2 37.25 2 4.14 10 2 40 2.75 4.00 11 2 43.25 3.25 3.93
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 1SQ
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Given the following
Quantity Marginal Revenue Total Cost Marginal Cost
0 2 15 - -
1 2 19.75 4.75 19.75
2 2 23.5 3.75 11.75
3 2 26.5 3 8.83
4 2 29 2.5 7.25
5 2 31 2 6.20
6 2 32.5 1.5 5.42
7 2 33.75 1.25 4.82
8 2 35.25 1.5 4.41
9 2 37.25 2 4.14
10 2 40 2.75 4.00
11 2 43.25 3.25 3.93
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