Use Table A below and calculate ATC, Profit, marginal revenue and marginal cost at each quantity of output - keep your calculation for follow up questions: QPTRTCATCProfitMRMC0$1,900$0$1,000 1$1,700$1,700$2,000 2$1,650$3,300$2,800 3$1,600$4,800$3,500 4$1,550$6,200$4,000 5$1,500$7,500$4,500 6$1,450$8,700$5,200 7$1,400$9,800$6,000 8$1,350$10,800$7,000 9$1,300$11,700$9,000 a.QPTRTCATCProfitMRMC0$1,900$0$1,000$0-$1000$0$01$1,700$1,700$2,000$2,000-$300$1,700$1,0002$1,650$3,300$2,800$1,400$500$1,600$8003$1,600$4,800$3,500$1,166.66$1,300$1,500$7004$1,550$6,200$4,000$1,000$2,200$1,400$5005$1,500$7,500$4,500$900$3,000$1,300$5006$1,450$8,700$5,200$866.66$3,500$1,200$7007$1,400$9,800$6,000$857.14$3,800$1,100$8008$1,350$10,800$7,000$875$3,800$1,000$1,0009$1,300$11,700$9,000$1,000$2,700$900$2,000 b. QPTRTCATCProfitMRMC0$1,900$0$1,000$0-$1000$0$01$1,700$1,700$2,000$2,000-$1000$0$02$1,650$3,300$2,800$1,400-$300$1,700$1,0003$1,600$4,800$3,500$1,166.66$500$1,600$1,0004$1,550$6,200$4,000$1,000$1,300$1,500$7005$1,500$7,500$4,500$900$2,200$1,400$5006$1,450$8,700$5,200$866.66$3,000$1,300$5007$1,400$9,800$6,000$857.14$3,500$1,200$7008$1,350$10,800$7,000$875$3,800$1,100$8009$1,300$11,700$9,000$1,000$3,800$1,000$1,000 c.QPTRTCATCProfitMRMC0$1,900$0$1,000$0-$1000$0$01$1,700$1,700$2,000$1,000-$300$1,700$1,0002$1,650$3,300$2,800$1,000$500$1,600$1,0003$1,600$4,800$3,500$1,000$1,300$1,500$7004$1,550$6,200$4,000$1,000$2,200$1,400$5005$1,500$7,500$4,500$1,000$3,000$1,300$5006$1,450$8,700$5,200$1,000$3,500$1,200$7007$1,400$9,800$6,000$1,000$3,800$1,100$8008$1,350$10,800$7,000$1,000$3,800$1,000$1,0009$1,300$11,700$9,000$1,000$2,700$900$2,000 d.QPTRTCATCProfitMRMC0$1,900$0$1,000$0-$100$10$5001$1,700$1,700$2,000$2,000-$30$1,700$1,0002$1,650$3,300$2,800$1,400$50$1,600$1,0003$1,600$4,800$3,500$1,166.66$1,300$1,500$7004$1,550$6,200$4,000$1,000$2,200$1,400$5005$1,500$7,500$4,500$900$3,000$1,300$5006$1,450$8,700$5,200$866.66$3,500$1,200$7007$1,400$9,800$6,000$857.14$3,800$1,100$8008$1,350$10,800$7,000$875$3,800$1,000$1,0009$1,300$11,700$9,000$1,000$2,700$900$2,000 e.QPTRTCATCProfitMRMC0$1,900$0$1,000$0-$1000$0$01$1,700$1,700$2,000$2,000-$300$1,700$1002$1,650$3,300$2,800$1,400$500$1,600$1003$1,600$4,800$3,500$1,166.66$1,300$1,500$704$1,550$6,200$4,000$1,000$2,200$1,400$505$1,500$7,500$4,500$900$3,000$1,300$506$1,450$8,700$5,200$866.66$3,500$1,200$707$1,400$9,800$6,000$857.14$3,800$1,100$808$1,350$10,800$7,000$875$3,800$1,000$1009$1,300$11,700$9,000$1,000$2,700$900$200

The table will look like this: Average total cost is the total cost divided by the total units…

Answered: Use Table A below and calculate ATC,…

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 7PA

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Use Table A below and calculate ATC, Profit, marginal revenue and marginal cost at each quantity of output - keep your calculation for follow up questions:

Q	P	TR	TC	ATC	Profit	MR	MC
0	$1,900	$0	$1,000
1	$1,700	$1,700	$2,000
2	$1,650	$3,300	$2,800
3	$1,600	$4,800	$3,500
4	$1,550	$6,200	$4,000
5	$1,500	$7,500	$4,500
6	$1,450	$8,700	$5,200
7	$1,400	$9,800	$6,000
8	$1,350	$10,800	$7,000
9	$1,300	$11,700	$9,000

Q	P	TR	TC	ATC	Profit	MR	MC
0	$1,900	$0	$1,000	$0	-$1000	$0	$0
1	$1,700	$1,700	$2,000	$2,000	-$300	$1,700	$1,000
2	$1,650	$3,300	$2,800	$1,400	$500	$1,600	$800
3	$1,600	$4,800	$3,500	$1,166.66	$1,300	$1,500	$700
4	$1,550	$6,200	$4,000	$1,000	$2,200	$1,400	$500
5	$1,500	$7,500	$4,500	$900	$3,000	$1,300	$500
6	$1,450	$8,700	$5,200	$866.66	$3,500	$1,200	$700
7	$1,400	$9,800	$6,000	$857.14	$3,800	$1,100	$800
8	$1,350	$10,800	$7,000	$875	$3,800	$1,000	$1,000
9	$1,300	$11,700	$9,000	$1,000	$2,700	$900	$2,000

Q	P	TR	TC	ATC	Profit	MR	MC
0	$1,900	$0	$1,000	$0	-$1000	$0	$0
1	$1,700	$1,700	$2,000	$2,000	-$1000	$0	$0
2	$1,650	$3,300	$2,800	$1,400	-$300	$1,700	$1,000
3	$1,600	$4,800	$3,500	$1,166.66	$500	$1,600	$1,000
4	$1,550	$6,200	$4,000	$1,000	$1,300	$1,500	$700
5	$1,500	$7,500	$4,500	$900	$2,200	$1,400	$500
6	$1,450	$8,700	$5,200	$866.66	$3,000	$1,300	$500
7	$1,400	$9,800	$6,000	$857.14	$3,500	$1,200	$700
8	$1,350	$10,800	$7,000	$875	$3,800	$1,100	$800
9	$1,300	$11,700	$9,000	$1,000	$3,800	$1,000	$1,000

Q	P	TR	TC	ATC	Profit	MR	MC
0	$1,900	$0	$1,000	$0	-$1000	$0	$0
1	$1,700	$1,700	$2,000	$1,000	-$300	$1,700	$1,000
2	$1,650	$3,300	$2,800	$1,000	$500	$1,600	$1,000
3	$1,600	$4,800	$3,500	$1,000	$1,300	$1,500	$700
4	$1,550	$6,200	$4,000	$1,000	$2,200	$1,400	$500
5	$1,500	$7,500	$4,500	$1,000	$3,000	$1,300	$500
6	$1,450	$8,700	$5,200	$1,000	$3,500	$1,200	$700
7	$1,400	$9,800	$6,000	$1,000	$3,800	$1,100	$800
8	$1,350	$10,800	$7,000	$1,000	$3,800	$1,000	$1,000
9	$1,300	$11,700	$9,000	$1,000	$2,700	$900	$2,000

Q	P	TR	TC	ATC	Profit	MR	MC
0	$1,900	$0	$1,000	$0	-$100	$10	$500
1	$1,700	$1,700	$2,000	$2,000	-$30	$1,700	$1,000
2	$1,650	$3,300	$2,800	$1,400	$50	$1,600	$1,000
3	$1,600	$4,800	$3,500	$1,166.66	$1,300	$1,500	$700
4	$1,550	$6,200	$4,000	$1,000	$2,200	$1,400	$500
5	$1,500	$7,500	$4,500	$900	$3,000	$1,300	$500
6	$1,450	$8,700	$5,200	$866.66	$3,500	$1,200	$700
7	$1,400	$9,800	$6,000	$857.14	$3,800	$1,100	$800
8	$1,350	$10,800	$7,000	$875	$3,800	$1,000	$1,000
9	$1,300	$11,700	$9,000	$1,000	$2,700	$900	$2,000

Q	P	TR	TC	ATC	Profit	MR	MC
0	$1,900	$0	$1,000	$0	-$1000	$0	$0
1	$1,700	$1,700	$2,000	$2,000	-$300	$1,700	$100
2	$1,650	$3,300	$2,800	$1,400	$500	$1,600	$100
3	$1,600	$4,800	$3,500	$1,166.66	$1,300	$1,500	$70
4	$1,550	$6,200	$4,000	$1,000	$2,200	$1,400	$50
5	$1,500	$7,500	$4,500	$900	$3,000	$1,300	$50
6	$1,450	$8,700	$5,200	$866.66	$3,500	$1,200	$70
7	$1,400	$9,800	$6,000	$857.14	$3,800	$1,100	$80
8	$1,350	$10,800	$7,000	$875	$3,800	$1,000	$100
9	$1,300	$11,700	$9,000	$1,000	$2,700	$900	$200

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