at the optimal output , what price will do drop in chrge and what will be its output?Price $ Output in units Also at the optimal price and output , what will be its total revenue, total cost and total lost .Please calculate the points on the graph.
at the optimal output , what price will do drop in chrge and what will be its output?Price $ Output in units Also at the optimal price and output , what will be its total revenue, total cost and total lost .Please calculate the points on the graph.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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at the optimal output , what price will do drop in chrge and what will be its output?Price $ Output in units Also at the optimal price and output , what will be its total revenue, total cost and total lost .Please calculate the points on the graph.
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Transcribed Image Text:The graph shown below is that of Do Drop In, a shop in the dry-cleaning industry.
20
18
MC
16
AC
14
(180, 15.5)
12
10
D
MR
60
120
180 240 300
360
420
Quantity per period
Cost and revenues (in dollars)
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