Quantity Total Revenue Total Cost Marginal Revenue Marginal Cost $80 $50 2 S160 $102 3 $240 $157 4 $320 $217 5 $400 $285 6 $480 $365 Based on the information given in the table calculate: a. The marginal revenue of all possible level of quantity b. The marginal cost of all possible level of quantity C. Profit maximizing quantity for this firm

Quantity Total Revenue Total Cost Marginal Revenue Marginal Cost $80 $50 2 S160 $102 3 $240 $157 4 $320 $217 5 $400 $285 6 $480 $365 Based on the information given in the table calculate: a. The marginal revenue of all possible level of quantity b. The marginal cost of all possible level of quantity C. Profit maximizing quantity for this firm

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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6. A-One bakery in Brampton sells 350 fruit cakes slices each month for $3.25 each. They are looking for help to come up with a strategy to increase revenue. A student from our school who works their part time conducts a survey. The results of the survey indicate that sales of the fruit cake slices would increase by 80 per month for each $0.10 decrease in price. c. Determine the marginal revenue from the sales of 200 slices of fruit cake. d. The cost of producing x fruit cake slices is C(x) = -0.0005x² + 1.5x + 300. Determine the marginal cost of producing 200 fruit cake slices.
(a) The table below shows the revenue and costs of a firm. Quantity Price (RM) Total Revenue (RM) Marginal Revenue Total Cost (RM) Marginal Cost 100 250 5 000 200 230 20 000 300 210 37 000 400 180 57 000 500 160 79 000 600 140 104 000 i. Complete the table. ii. Determine the profit maximizing price and output for the firm. ii. Calculate profits at equilibrium output.
8 7 2 Marginal revenue MC-AC (A) $920 (A) Seniors B) $580 Senior demand C) $300 D) $280 200 300 Number of meals 10 8 2 Figure 7.6 (B) Non-Seniors Marginal revenue Figure 7.6 shows prices, demands, and cost data for the only restaurant in a small town. Compared to the profit under the single price policy, how much additional profit does the restaurant earn under the senior discount policy of a $7 senior price and a $10 non-senior price? MC-AC Non-Senior demand 320 380 Number of meals
19. Dani sells roses in a competitive market where the price of a rose is $8. Use this information to fill out the revenue columns in the table. Quantity of Roses Total Revenue Average Revenue Marginal Revenue 1 2 3 4 5
1) What is total fixed cost at the profit-maximizing quantity? 2) Below what price will the firm shut-down? 3) What are operating losses / profit (If the firm does not shut-down)?
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21. Marginal cost is the change is cost that results from a one unit increase in О Price b. Cost C Output d. Revenue
If you want to find out how much more income you will earn by selling one more cupcake, you will want to calculate: Question 37 options: economic profit total revenue marginal revenue accounting profit
24) What are shut-down losses (if the firm shuts down)?
A) What is the profit-maximizing price? B) What is the profit-maximizing quantity? C) What is total revenue at the profit-maximizing quantity?
7) What is total fixed cost at the profit-maximizing quantity?
Use the above figure. Total revenue at the profit-maximizing output is