what are the formulas for each column? what is the profit maximizing output q and p? what is the firms best course of action short and long term?
what are the formulas for each column? what is the profit maximizing output q and p? what is the firms best course of action short and long term?
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 9SQP
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Question
what are the formulas for each column?
what is the profit maximizing output q and p?
what is the firms best course of action short and long term?
![Annual output Fixed cost in Variable Total Cost
repairs in 000
Average
Varable
Average cost in Marginal cost in
S per unit (SAC) S per unit (SMC)
Price
MR
Revenue
Profit
So00
cost in S000
in S000
cost
270
270
270
270
270
270.0
427.5
600.0
0.0
157.5
10
330.0
15
517.5
787.5
20
25
30
35
40
45
50
5
60
720.0
990.0
270
937.5
1207.5
270
270
270
270
270
270
270
1170.0
1440.0
1687.5
1417.5
1680.0
1950.0
2227.5
2520.0
1957.5
2250.0
2557.5
2827.5
2880.0
3150.0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F61f2d5ac-649f-45ec-898a-0ccbdbee88f9%2F43e33bde-ab0b-478b-8e94-b2398c1a0a59%2Fiap4b6_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Annual output Fixed cost in Variable Total Cost
repairs in 000
Average
Varable
Average cost in Marginal cost in
S per unit (SAC) S per unit (SMC)
Price
MR
Revenue
Profit
So00
cost in S000
in S000
cost
270
270
270
270
270
270.0
427.5
600.0
0.0
157.5
10
330.0
15
517.5
787.5
20
25
30
35
40
45
50
5
60
720.0
990.0
270
937.5
1207.5
270
270
270
270
270
270
270
1170.0
1440.0
1687.5
1417.5
1680.0
1950.0
2227.5
2520.0
1957.5
2250.0
2557.5
2827.5
2880.0
3150.0
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