World market demand and supply curves for clay fire pots

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Reference no: EM131246158

The world market demand and supply curves for clay fire pots intersects at $190 per unit. Add columns 9, and 10 to show, respectively, total revenue (TR) and marginal revenue (MR). Add column 11 to show profit (i.e., TR-TC). Add column 12 to show profit per unit (i.e., average profit). Add column 13 to show profit margin (i.e., price minus average total cost). Submit your Excel spreadsheet to the Drop Box. [Hint: At Q = 400: AVC = 82.50, SMC = 110, MR = 190, profit = 38,000, and profit margin = 95].

Reference no: EM131246158

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