Following is Ahmed’s competitively firm data and solve all the parts and subparts:   Output (Q) Total Cost Total Revenue 0 62 0 30 90 40 60 110 80 90 126 120 120 138 160 150 150 200 180 165 240 210 190 280 240 230 320 270 296 360   a. Find the profit maximizing output. b. Find:      a. FC      b. VC      c. ATC      d. AFC      e. AVC      f.  MC c. Find the efficient scale of output. d. Draw all the curves for the variables in part b using two-dimensional space.

Exploring Economics
8th Edition
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter11: The Firm: Production And Costs
Section: Chapter Questions
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Following is Ahmed’s competitively firm data and solve all the parts and subparts:

 

Output (Q)

Total Cost

Total Revenue

0

62

0

30

90

40

60

110

80

90

126

120

120

138

160

150

150

200

180

165

240

210

190

280

240

230

320

270

296

360

 

a. Find the profit maximizing output.

b. Find:

     a. FC
     b. VC
     c. ATC
     d. AFC
     e. AVC
     f.  MC

c. Find the efficient scale of output.

d. Draw all the curves for the variables in part b using two-dimensional space.

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