Level of Output and Income (GDP =DI) $240 260 280 300 320 340 360 380 400 Consumption $256 268 280 292 304 316 328 340 352 Saving $-16 -8 0 8 16 24 32 40 48 APC 1.0167 1.0000 0.9857 0.9733 0.9625 0.9529 0.9444 0.9368 0.9300 APS -0.0167 0.0000 0.0143 0.0267 0.0375 0.0471 0.0556 0.0632 0.0700 MPC 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 MPS 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2

Level of Output and Income (GDP =DI) $240 260 280 300 320 340 360 380 400 Consumption $256 268 280 292 304 316 328 340 352 Saving $-16 -8 0 8 16 24 32 40 48 APC 1.0167 1.0000 0.9857 0.9733 0.9625 0.9529 0.9444 0.9368 0.9300 APS -0.0167 0.0000 0.0143 0.0267 0.0375 0.0471 0.0556 0.0632 0.0700 MPC 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 MPS 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Revenue and Costs ($) TC P61 Given TFC = $40.00 Q1 = 30.00 Q2 = 40.00 TR P6 P5 Q3 = 50.00 Q4 = 80.00 Q5 = 86.00 P4. P1 = $40.00 P2 = $50.00 P3 = $60.0o P4 = $150.00 P5 = $200.00 P6 = $210.00 P61 = $320.00 P3 P2 P1 Q1 Q2 Q4 Q5 Q3 Exhibit TR-TC Output (Q) Refer to Exhibit TR-TC for a typical competitive firm. At an output level of Q5, the firm's losses is about O $100.00 O $90.00 O $110.00 O $120.00