a. Calculate MC and MR.

Principles of Microeconomics (MindTap Course List)
8th Edition
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter13: The Cost Of Production
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Exercise (Structured Questions)
x G bought goods on credit from lab x
rtleby
ATUZMJK4/a/MJM4NDI3MTA5MJYY/details
Grlninal cost, average fixed cost, long
marginal revenue is RA Coloulettha na
fit.
run average cost, total= Open with Google Docs
3. Given information in the following table:
Quantity
Price (RM)
Total Cost
1
60
18
58
20
54
24
4.
48
30
40
38
6.
28
50
14
70
a. Calculate MC and MR.
b. Determine the quantity produced by the firm
How much does the firm earn in terms of profit?
C.
d. What is the average cost of the firm?
Sketch the AC, AR, MR and MC curve without a scale.
e.
23
Transcribed Image Text:Exercise (Structured Questions) x G bought goods on credit from lab x rtleby ATUZMJK4/a/MJM4NDI3MTA5MJYY/details Grlninal cost, average fixed cost, long marginal revenue is RA Coloulettha na fit. run average cost, total= Open with Google Docs 3. Given information in the following table: Quantity Price (RM) Total Cost 1 60 18 58 20 54 24 4. 48 30 40 38 6. 28 50 14 70 a. Calculate MC and MR. b. Determine the quantity produced by the firm How much does the firm earn in terms of profit? C. d. What is the average cost of the firm? Sketch the AC, AR, MR and MC curve without a scale. e. 23
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