Quantity TC FC VC AFC *** **** *******     1000 1000   ** *   *   50 1500 1000 500 20       100 1800 1000   10       150 2400 1000   6.7       200 3200 1000   5       250 4500 1000   4       300 6000 1000 キ 3.3       (a) Assume the market price is $26:Quantity Revenue Profit At what price is the firm earning normal profit?

Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter14: Monopoly
Section: Chapter Questions
Problem 6PA
Question

Quantity

TC

FC

VC

AFC

***

****

*******

 

 

1000

1000

 

**

*

 

*

 

50

1500

1000

500

20

 

 

 

100

1800

1000

 

10

 

 

 

150

2400

1000

 

6.7

 

 

 

200

3200

1000

 

5

 

 

 

250

4500

1000

 

4

 

 

 

300

6000

1000

3.3

 

 

 

(a) Assume the market price is $26:
Quantity

Revenue

Profit

  1. At what price is the firm earning normal profit?
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