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
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F.
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I.
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