At a quantity of 265 units marginal revenue
equals marginal cost. Fixed cost is $2,500, the Total Variable cost
is $9,500, and the total revenue is $11,000. Calculate the average
fixed cost, average variable cost, average total cost and marginal
revenue. Should the company shut down or stay in
business in the short run? In the long run?
At a quantity of 375 units marginal revenue equals marginal
cost. Fixed cost is $1000, the Total Variable Cost is $7,000 and
the Total Revenue is $6000. Calculate the average fixed cost,
average variable cost, average total cost and marginal
revenue. Should the company shut down or stay in
business?
For a consumer to maximize utility?
A Price equals marginal cost
B Marginal Utility equals marginal benefit
C Marginal benefit equals total utility
D Price equals marginal benefit
For a monopolist:
Price is greater than marginal revenue.
Marginal revenue equals zero.
Marginal cost equals zero.
Average total cost equals marginal cost.
1. Producing where Marginal Revenue equals marginal cost does
not maximize profit or minimizes losses. Agree or Disagree? Why?
Explain your answer and give examples.
2. Basing the determination of the short-term profit maximizing
output for individual firms based on the four basic market
structures by using arithmetic and graphical
analysis is not effective method. Agree or Disagree? Why?
Explain your answer and give examples.
3. There is no contrast of demand curve differences between the
four basic market structures....
QUESTION 8
For a monopolist:
price equals average total cost.
price is above marginal revenue.
marginal revenue equals zero.
marginal cost equals zero.
QUESTION 9
An example of price discrimination is the price charged for:
an economics textbook sold at a campus bookstore.
gasoline.
theater tickets that offer lower prices for seniors.
a postage stamp.
QUESTION 10
There is only one gas station within hundreds of miles. The
owner finds that if she charges $3 a gallon, she sells 199...
Question 1
Output
total cost
marginal cost
fixed cost
average cost
Total revenue
average revenue
Marginal
revenue
0
10
0
1
16
20
2
26
40
3
40
60
4
60
80
5
88
100
6
120
120
A) Complete the missing data on the table
B) What is the selling price of a laptop case explain your
answer
c) What is the profit maximizing level of output for this firm
explain your answer
d) create a graph using three...