Compare the average total cost and the marginal cost and explain the relationship Describe the methods that can be used to dertermine where profit is maximized L Q MP MC TC ATC 0 0 200 1 20 20 5.00 300 15 2 50 30 3.33 400 8 3 90 40 2.50 500 5.56 4 120 30 3.33 600 5.00 5 140 20 5.00 700 5.00 6 150 10 10.00 800 5.33 7 155 5 20.00 900 5.81
Compare the average total cost and the marginal cost and explain the relationship Describe the methods that can be used to dertermine where profit is maximized L Q MP MC TC ATC 0 0 200 1 20 20 5.00 300 15 2 50 30 3.33 400 8 3 90 40 2.50 500 5.56 4 120 30 3.33 600 5.00 5 140 20 5.00 700 5.00 6 150 10 10.00 800 5.33 7 155 5 20.00 900 5.81
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 9SQP
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Question
Compare the
Describe the methods that can be used to dertermine where profit is maximized
L |
Q |
MP |
MC |
TC |
ATC |
0 |
0 |
|
|
200 |
|
1 |
20 |
20 |
5.00 |
300 |
15 |
2 |
50 |
30 |
3.33 |
400 |
8 |
3 |
90 |
40 |
2.50 |
500 |
5.56 |
4 |
120 |
30 |
3.33 |
600 |
5.00 |
5 |
140 |
20 |
5.00 |
700 |
5.00 |
6 |
150 |
10 |
10.00 |
800 |
5.33 |
7 |
155 |
5 |
20.00 |
900 |
5.81 |
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