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
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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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