Suppose the market price for a price taking firm is known to be $2, thetotal revenue accruing to it if it sells 100 isand the total revenueaccruing to it if it sells 200 isO $100, $200O $2, $2O $200, $400O $200, $400 Table Cost.EX2: Costs and Outputs for aCompetitive FirmTotalTotalOutputFixedVariable(Q)Costs (TFC)Costs (TVC)$30.00$0.003.$30.00$40.006.$30.00$90.009.$30.00$130.0012$30.00$190.0015$30.00$260.00Refer to Table Cost.EX2. For the 6 units, the average total cost is aboutO $20.00O $16.67O $5.00$15.00

"Since you have asked multiple questions,we will solve first question for you.If you want specific question to be solved then specify the question number or post only that question" The worth or market value is the value at which the current price at that AN quality or service is often bought or sold. The market value of AN quality or service is decided by the forces of provide and demand. The worth at that amount equipped equals amount demanded is that the market value. Price is very important to marketers and as a result, it represents marketers' assessment of the worth customers see within the product or service and area unit willing to purchase a product or service. Each value that's too high and one that's too low will limit growth. The incorrect value can even negatively influence sales and income.The average sales value increased by the number of units sold equals revenue, which is computed because the average sales value increased by the number of units sold. Total revenue refers to the entire amount of products and services sold. It's computed by dividing the entire variety of products and services sold by the costs of these products and services. It's a business's total financial gain, determined by multiplying the number of things sold by the worth of the commodities. Total revenue, usually called total sales or sales, is that the quantity of cash your company created before subtracting expenses from all sales. TR = P x Qd Total Revenue when 100 units: 100×2 = 200 Total Revenue when there is 200 units: 200×2 = 400 Hence, it is proved that the right answer is 200 & 400

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Suppose the market price for a price taking firm is known to be $2, the total revenue accruing to it if it sells 100 is _ and the total revenue accruing to it if it sells 200 is O $100, $200 $2, $2 O $200, $400 $200, $400

Suppose the market price for a price taking firm is known to be $2, the total revenue accruing to it if it sells 100 is _ and the total revenue accruing to it if it sells 200 is O $100, $200 $2, $2 O $200, $400 $200, $400

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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