Complete the table below and graph the AR, MR, MC, and AC Q Price TR AR MR TC MC Profit 0 30 70 5 27 135 10 24 197 15 21 252 20 18 300 25 15 345 30 12 383 35 9 428 40 6 478 45 3 533 50 0 593 Provide a brief explanation of the firm's behavior to set production at 20 units at the price of P18 per unit.
Complete the table below and graph the AR, MR, MC, and AC Q Price TR AR MR TC MC Profit 0 30 70 5 27 135 10 24 197 15 21 252 20 18 300 25 15 345 30 12 383 35 9 428 40 6 478 45 3 533 50 0 593 Provide a brief explanation of the firm's behavior to set production at 20 units at the price of P18 per unit.
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter3: Benefits, Costs, And Decisions
Section: Chapter Questions
Problem 1MC
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Question
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Complete the table below and graph the AR, MR, MC, and AC
Q |
Price |
TR |
AR |
MR |
TC |
MC |
Profit |
0 |
30 |
|
|
|
70 |
|
|
5 |
27 |
|
|
|
135 |
|
|
10 |
24 |
|
|
|
197 |
|
|
15 |
21 |
|
|
|
252 |
|
|
20 |
18 |
|
|
|
300 |
|
|
25 |
15 |
|
|
|
345 |
|
|
30 |
12 |
|
|
|
383 |
|
|
35 |
9 |
|
|
|
428 |
|
|
40 |
6 |
|
|
|
478 |
|
|
45 |
3 |
|
|
|
533 |
|
|
50 |
0 |
|
|
|
593 |
|
|
Provide a brief explanation of the firm's behavior to set production at 20 units at the price of P18 per unit.
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