quantity marginal average percent contribution Price Demand total revenue revenue fixed cost variable cost total cost variable cost marginal cost MR-MC profit margin 18 600 10800 (a) 500 5210 5710 8.68 (b) (c) 5090 17 700 11900 11 500 5640 6140 8.06 4.30 (d) 5760 0.75 16 800 12800 9 500 6135 6635 7.67 4.95 (e) 6165 0.69 15 900 13500 7 500 6700 7200 7.44 5.65 (f) 6300 0.62 14 1000 14000 5 500 7335 7835 7.34 6.35 (g) 6165 0.55 13 1100 14300 3 500 8060 8560 7.33 7.25 (h) 5740 0.44 12 1200 14400 1 500 8900 9400 7.42 8.40 (i) 5000 0.30
quantity marginal average percent contribution Price Demand total revenue revenue fixed cost variable cost total cost variable cost marginal cost MR-MC profit margin 18 600 10800 (a) 500 5210 5710 8.68 (b) (c) 5090 17 700 11900 11 500 5640 6140 8.06 4.30 (d) 5760 0.75 16 800 12800 9 500 6135 6635 7.67 4.95 (e) 6165 0.69 15 900 13500 7 500 6700 7200 7.44 5.65 (f) 6300 0.62 14 1000 14000 5 500 7335 7835 7.34 6.35 (g) 6165 0.55 13 1100 14300 3 500 8060 8560 7.33 7.25 (h) 5740 0.44 12 1200 14400 1 500 8900 9400 7.42 8.40 (i) 5000 0.30
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
Complete the table.
A.
B.
C.
D.
E.
F.
G.
H.
I.

Transcribed Image Text:quantity
marginal
average
percent
contribution
Price
Demand
total revenue revenue
fixed cost
variable cost total cost
variable cost marginal cost MR-MC
profit
margin
18
600
10800 (a)
500
5210
5710
8.68 (b)
(c)
5090
17
700
11900
11
500
5640
6140
8.06
4.30 (d)
5760
0.75
16
800
12800
9
500
6135
6635
7.67
4.95 (e)
6165
0.69
15
900
13500
7
500
6700
7200
7.44
5.65 (f)
6300
0.62
14
1000
14000
5
500
7335
7835
7.34
6.35 (g)
6165
0.55
13
1100
14300
3
500
8060
8560
7.33
7.25 (h)
5740
0.44
12
1200
14400
1
500
8900
9400
7.42
8.40 (i)
5000
0.30
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps

Recommended textbooks for you


Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON

Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON


Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON

Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON

Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning

Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education