Now summarize your results. Enter values for each of the following prices:19) Profit maximizing price.20) Socially best price.21) Price where profit is zero. 121314 80157016601718 5019402021222324252627282930313233302010$/Q0020000 40000Reset to baselineGo to answer sheet6000080000Questions 11-12PrintMCACDEMANDMR100000QMARKET DATAPrice (AR)MRAR-ACAR-MCOutputACMCFIRM COST DATAMR-MCMC-AC$6.55-$60.72-$2.55$0.00IncomeTax per unit79,882$9.10$6.55-$67.26-$2.55POLICY VARIABLES$55.000$0.00

For any producer in the market profit maximizing point is achieved where the marginal revenue from…

Answered: Now summarize your results. Enter…

Now summarize your results. Enter values for each of the following prices: 19) Profit maximizing price. 20) Socially best price. 21) Price where profit is zero.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Now summarize your results. Enter values for each of the following prices:
19) Profit maximizing price.
20) Socially best price.
21) Price where profit is zero.

12
13
14 80
15
70
16
60
17
18 50
19
40
20
21
22
23
24
25
26
27
28
29
30
31
32
33
30
20
10
$/Q
0
0
20000 40000
Reset to baseline
Go to answer sheet
60000
80000
Questions 11-12
Print
MC
AC
DEMAND
MR
100000
Q
MARKET DATA
Price (AR)
MR
AR-AC
AR-MC
Output
AC
MC
FIRM COST DATA
MR-MC
MC-AC
$6.55
-$60.72
-$2.55
$0.00
Income
Tax per unit
79,882
$9.10
$6.55
-$67.26
-$2.55
POLICY VARIABLES
$55.000
$0.00

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