Quantity Price ($) Total Revenue ($) Marginal Revenue ($) Total Cost ($) Marginal Cost ($) Average Cost($) 2 24 48 23 35 2.5 17.5 4 23 92 21 45 5 11.25 6 22 132 19 60 7.5 10 8 21 168 17 77 8.5 9.63 10 20 200 15 100 11.5 10 12 19 228 13 126 13 10.5 14 18 252 11 165 19.5 11.79 16 17 272 9 210 22.5 13.13 18 16 288 7 260 25 14.44 20 15 300 5 320 30 16   The table above is for a monopolistic competitive firm. What price will the firm charge? Question 19 options:   $13   $15   $19   $24

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

Quantity

Price ($)

Total Revenue

($)

Marginal Revenue

($)

Total Cost ($)

Marginal Cost ($)

Average Cost($)

2

24

48

23

35

2.5

17.5

4

23

92

21

45

5

11.25

6

22

132

19

60

7.5

10

8

21

168

17

77

8.5

9.63

10

20

200

15

100

11.5

10

12

19

228

13

126

13

10.5

14

18

252

11

165

19.5

11.79

16

17

272

9

210

22.5

13.13

18

16

288

7

260

25

14.44

20

15

300

5

320

30

16

 

The table above is for a monopolistic competitive firm. What price will the firm charge?

Question 19 options:

 

$13

 

$15

 

$19

 

$24

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