MarginalAverageMarginalTotal OutputPriceRevenueTotal CostCost1$ 100$ 100$ 100.00$30908063.00263806052.67324704049.5040602049.60505050.0052740-2052.2966830-4055.75809.20-6060.671001010-8067.60130Refer to the data. At its profit-maximizing output, this firm's total revenue will be Multiple Choice$300.:....:$198.$180.$280.

Demand curve and marginal revenue curve slopes downward. Marginal revenue lies below the demand…

Marginal Average Marginal Total Output Price Revenue Total Cost Cost 1 $ 100 $ 100 $ 100.00 $30 90 80 63.00 26 3 80 60 52.67 32 4 70 40 49.50 40 60 20 49.60 50 6. 50 50.00 52 40 -20 52.29 66 8 30 -40 55.75 80 9. 20 -60 60.67 100 10 10 -80 67.60 130 Refer to the data. At its profit-maximizing output, this firm's total revenue will be

Marginal Average Marginal Total Output Price Revenue Total Cost Cost 1 $ 100 $ 100 $ 100.00 $30 90 80 63.00 26 3 80 60 52.67 32 4 70 40 49.50 40 60 20 49.60 50 6. 50 50.00 52 40 -20 52.29 66 8 30 -40 55.75 80 9. 20 -60 60.67 100 10 10 -80 67.60 130 Refer to the data. At its profit-maximizing output, this firm's total revenue will be

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Using the graph attached, calculate the firm's profits at the profit maximizing output.
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The figure given below shows the revenue and cost curves of a perfectly competitive firm. Figure 10.2 Price 50 35 30 20 10 $450 $700 10 $500 15 MC 20 MR AVC Refer to Figure 10.2. Compute the profit earned by the firm at the profit-maximizing level of output. $300 ATC Quantity
3. The components of marginal revenue Asim's HookNLadder is the only company selling fire engines in the fictional country of Alexandrina. Asim initially produced seven trucks, but then decided to increase production to eight trucks. The following graph gives the demand curve faced by Asim's HookNLadder. As the graph shows, in order to sell the additional fire truck, Asim must lower the price from $100,000 to $50,000 per truck. Notice that Asim gains revenue from the sale of the additional engine, but at the same time, he loses revenue from the initial seven engines because they are all sold at the lower price. Use the purple rectangle (diamond symbols) to shade the area representing the revenue lost from the initial seven engines by selling at $50,000 rather than $100,000. Then use the green rectangle (triangle symbols) to shade the area representing the revenue gained from selling an additional engine at $50,000. PRICE (Thousands of dollars per fire engine) 275 250 Asim 225 200 175…
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Figure 6.1 MC ATC AVC MR2 MR, 3. 3. 3. 30 40 50 60 Quantity Refer to Figure 6.1. Given MR2, what is total revenue if the firm produces 60 units and the lowest point of the average-total-cost curve is $4? $400 $240 $440 $300 Price
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