he following problem traces the relationship between firm​ decisions, market​ supply, and market equilibrium in a perfectly competitive market. Complete the cost table below. ​(Round your responses to two decimal places.​)   q TFC TVC TC AVC ATC MC 0 ​$4040 ​$0 ​$4040 long dash— long dash— long dash— 1 4040 125125   165165 125125 165165 125125 2 4040 167167   207207 83.583.5 103.5103.5 4242 3 4040 195195   235235 6565 78.3378.33 2828 4 4040 209209   249249 52.2552.25 62.2562.25 1414 5 4040 237237   277277 47.447.4 55.455.4 2828 6 4040 279279   319319 46.546.5 53.1753.17 4242 7 4040 335335   375375 47.8647.86 53.5753.57 5656 8 4040 405405   445445 50.6350.63 55.6355.63 7070 9 4040 489489   529529 54.3354.33 58.7858.78 8484 10 4040 587587   627627 58.758.7 62.762.7 9898 Using the information in the​ table, fill in the following supply schedule for this individual firm under perfect competition and indicate profit​ (positive, zero, or​ negative) at each output level. ​(​Hint: At each hypothetical​price, what is the MR of producing 1 more unit of​ output? Combine this with the MC of another unit to figure out the quantity​ supplied.) Price Quantity Supplied Profit ​$00 00 Zero Zero Negative Positive 1515 nothing ▼   Zero Positive Negative 3030 nothing ▼   Positive Negative Zero 4646 nothing ▼   Positive Negative Zero 5858 nothing ▼   Negative Positive Zero 7171 nothing ▼   Positive Zero Negative 8888 nothing ▼   Negative Zero Positive 102102 nothing ▼   Negative Positive Zero   Enter your answer in the edit fields and then click Check Answer.

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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he following problem traces the relationship between firm​ decisions, market​ supply, and market equilibrium in a perfectly competitive market.
Complete the cost table below.
​(Round
your responses to two decimal
places.​)
 
q
TFC
TVC
TC
AVC
ATC
MC
0
​$4040
​$0
​$4040
long dash—
long dash—
long dash—
1
4040
125125
  165165
125125
165165
125125
2
4040
167167
  207207
83.583.5
103.5103.5
4242
3
4040
195195
  235235
6565
78.3378.33
2828
4
4040
209209
  249249
52.2552.25
62.2562.25
1414
5
4040
237237
  277277
47.447.4
55.455.4
2828
6
4040
279279
  319319
46.546.5
53.1753.17
4242
7
4040
335335
  375375
47.8647.86
53.5753.57
5656
8
4040
405405
  445445
50.6350.63
55.6355.63
7070
9
4040
489489
  529529
54.3354.33
58.7858.78
8484
10
4040
587587
  627627
58.758.7
62.762.7
9898
Using the information in the​ table, fill in the following supply schedule for this individual firm under perfect competition and indicate profit​ (positive, zero, or​ negative) at each output level.
​(​Hint:
At each hypothetical​price, what is the MR of producing 1 more unit of​ output? Combine this with the MC of another unit to figure out the quantity​ supplied.)
Price
Quantity Supplied
Profit
​$00
00
Zero
Zero
Negative
Positive
1515
nothing
 
Zero
Positive
Negative
3030
nothing
 
Positive
Negative
Zero
4646
nothing
 
Positive
Negative
Zero
5858
nothing
 
Negative
Positive
Zero
7171
nothing
 
Positive
Zero
Negative
8888
nothing
 
Negative
Zero
Positive
102102
nothing
 
Negative
Positive
Zero
 
Enter your answer in the edit fields and then click Check Answer.
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