Prevamng lotal cost and output is given in the following: Output = 0, 10, 20, 30, 40, 50, 60, 65, 70, 75, 80, 85, 90 %3D Total cost = 65, 100, 130, 150, 160, 170, 185, 196, 210, 227, 250, 290, 360 %3D A. Find out the level of output at which the firm maximizes profits (total)? B. Find out the total profit at profit maximizing level output? c. Determine the quantities that the consumer should produce in order to maximize the profit using total and marginal analysis. Also determine at what levels of output does the firm break even? D. Find out the level of output at which the firm maximizes average profits? E. Find out the average profit at average profit maximizing level output?

Prevamng lotal cost and output is given in the following: Output = 0, 10, 20, 30, 40, 50, 60, 65, 70, 75, 80, 85, 90 %3D Total cost = 65, 100, 130, 150, 160, 170, 185, 196, 210, 227, 250, 290, 360 %3D A. Find out the level of output at which the firm maximizes profits (total)? B. Find out the total profit at profit maximizing level output? c. Determine the quantities that the consumer should produce in order to maximize the profit using total and marginal analysis. Also determine at what levels of output does the firm break even? D. Find out the level of output at which the firm maximizes average profits? E. Find out the average profit at average profit maximizing level output?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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