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
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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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