Output Total Total (Q) Price Revenue Cost 1 $20.00 $2.50 2 $15.00 $5.00 3 $10.00 $7.50 4 $5.00 $10.00 The table above shows demand and cost information for a firmn that has market power and can set its price. If the firm is able to Perfectly Price Discriminate, it's profit maximizing Output (Q) is: Select one: O a. b. 2 O c. 1 O d. 3

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Related questions
Question
Q40 and Q41
Output
Total
Total
(Q)
Price
Revenue
Cost
1
$20.00
$2.50
2
$15.00
$5.00
$10.00
$7.50
4
$5.00
$10.00
The table above shows demand and cost information for a firm that has market power and can set its price. If the firm
is able to Perfectly Price Discriminate, it's profit maximizing Output (Q) is:
Select one:
4
b. 2
O c.
1
O d. 3
Transcribed Image Text:Output Total Total (Q) Price Revenue Cost 1 $20.00 $2.50 2 $15.00 $5.00 $10.00 $7.50 4 $5.00 $10.00 The table above shows demand and cost information for a firm that has market power and can set its price. If the firm is able to Perfectly Price Discriminate, it's profit maximizing Output (Q) is: Select one: 4 b. 2 O c. 1 O d. 3
Output
(Q)
Total
Total
Price
Revenue
Cost
10
$12.00
$140
20
$12.00
$220
30
$12.00
$380
40
$12.00
$620
The table above shows revenue and cost information at four different Output (Q) levels for a Perfectly Competitive firm
in the short run. If the firm increases its Output from 30 to 40, Marginal Cost (MC) is
Select one:
O a.
$240
Ob. $12
O c. $160
O d. $24
Next page
age
Transcribed Image Text:Output (Q) Total Total Price Revenue Cost 10 $12.00 $140 20 $12.00 $220 30 $12.00 $380 40 $12.00 $620 The table above shows revenue and cost information at four different Output (Q) levels for a Perfectly Competitive firm in the short run. If the firm increases its Output from 30 to 40, Marginal Cost (MC) is Select one: O a. $240 Ob. $12 O c. $160 O d. $24 Next page age
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