Quantity Price ($) Total Revenue ($) Marginal Revenue ($) Total Cost ($) Marginal Cost ($) Average Cost($) 2 24 48 23 35 2.5 17.5 4 23 92 21 45 5 11.25 6 22 132 19 60 7.5 10 8 21 168 17 77 8.5 9.63 10 20 200 15 100 11.5 10 12 19 228 13 126 13 10.5 14 18 252 11 165 19.5 11.79 16 17 272 9 210 22.5 13.13 18 16 288 7 260 25 14.44 20 15 300 5 320 30 16 The table above is for a monopolistic competitive firm. What price will the firm charge? Question 19 options: $13 $15 $19 $24
Quantity Price ($) Total Revenue ($) Marginal Revenue ($) Total Cost ($) Marginal Cost ($) Average Cost($) 2 24 48 23 35 2.5 17.5 4 23 92 21 45 5 11.25 6 22 132 19 60 7.5 10 8 21 168 17 77 8.5 9.63 10 20 200 15 100 11.5 10 12 19 228 13 126 13 10.5 14 18 252 11 165 19.5 11.79 16 17 272 9 210 22.5 13.13 18 16 288 7 260 25 14.44 20 15 300 5 320 30 16 The table above is for a monopolistic competitive firm. What price will the firm charge? Question 19 options: $13 $15 $19 $24
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter5: Buying The Necessities
Section: Chapter Questions
Problem 20AA
Related questions
Question
Quantity |
Price ($) |
Total Revenue ($) |
Marginal Revenue ($) |
Total Cost ($) |
Marginal Cost ($) |
Average Cost($) |
2 |
24 |
48 |
23 |
35 |
2.5 |
17.5 |
4 |
23 |
92 |
21 |
45 |
5 |
11.25 |
6 |
22 |
132 |
19 |
60 |
7.5 |
10 |
8 |
21 |
168 |
17 |
77 |
8.5 |
9.63 |
10 |
20 |
200 |
15 |
100 |
11.5 |
10 |
12 |
19 |
228 |
13 |
126 |
13 |
10.5 |
14 |
18 |
252 |
11 |
165 |
19.5 |
11.79 |
16 |
17 |
272 |
9 |
210 |
22.5 |
13.13 |
18 |
16 |
288 |
7 |
260 |
25 |
14.44 |
20 |
15 |
300 |
5 |
320 |
30 |
16 |
The table above is for a
Question 19 options:
$13 |
|
$15 |
|
$19 |
|
$24 |
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