the table below shows the output cost and revenue situation of a firm. Study the table and asnwer the questions that fllows Q TVC TC MC P TR MR 0 0 150 0 200 0 - 1 110 C 110 175 175 175 2 170 320 G 150 I L 3 A D 46 135 405 105 4 250 E 34 120 J M 5 B 445 H 105 525 45 360 F 65 90 K N (a) what is the fixed cost of the firm? Explain your answer (b) determine the values from A-M by showing all workings employed (c) At what quantity and price is the firm in equilibrium position and in what market is the firm oeperating? explain your answer
the table below shows the output cost and revenue situation of a firm. Study the table and asnwer the questions that fllows Q TVC TC MC P TR MR 0 0 150 0 200 0 - 1 110 C 110 175 175 175 2 170 320 G 150 I L 3 A D 46 135 405 105 4 250 E 34 120 J M 5 B 445 H 105 525 45 360 F 65 90 K N (a) what is the fixed cost of the firm? Explain your answer (b) determine the values from A-M by showing all workings employed (c) At what quantity and price is the firm in equilibrium position and in what market is the firm oeperating? explain your answer
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter10: Prices, Output, And Strategy: Pure And Monopolistic Competition
Section: Chapter Questions
Problem 3E
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the table below shows the output cost and revenue situation of a firm. Study the table and asnwer the questions that fllows
Q | TVC | TC | MC | P | TR | MR |
0 | 0 | 150 | 0 | 200 | 0 | - |
1 | 110 | C | 110 | 175 | 175 | 175 |
2 | 170 | 320 | G | 150 | I | L |
3 | A | D | 46 | 135 | 405 | 105 |
4 | 250 | E | 34 | 120 | J | M |
5 | B | 445 | H | 105 | 525 | 45 |
360 | F | 65 | 90 | K | N |
(a) what is the fixed cost of the firm? Explain your answer
(b) determine the values from A-M by showing all workings employed
(c) At what quantity and price is the firm in equilibrium position and in what market is the firm oeperating? explain your answer
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