Customer Service Chat
Get quote & make Payment
Assignment, economics, Microeconomics
In the table below are given the output (X), T.C., and Price for a firm. Complete the following table, and then answer the questions at the bottom of the table.
X T.C P=A.R.=52, T.R, A.T.C, M.C, M.R, Profit
A. The profit maximization level of output (PMS) for a price of $52 is __________units of output with a (profit/loss) _______ of $ ________
B. At various prices below, indicate the Quantity Supplied and its corresponding Profit or Loss (exact amount)
Price Quantity Supplied Profit or Loss (exact)
Mark Cherry and Eric Jones jointly patented a method for manufacturing Adam Smith bobble head dolls. The plan is for a very limited production run. They investigate the potential market for this unique novelty and find their sales and total cost schedules to be as follows: (The costs include a licensing fee to the estate of Adam Smith)
Sales Unit Price Total Cost
0 200 140
1 180 170
2 160 200
3 140 220
4 120 250
5 100 300
6 80 380
A) Calculate their TR, MR, ATC, MC and profit/loss schedules
B) Determine the equilibrium price, equilibrium output, unit profit, and total profit at the equilibrium point for these ingenious entrepreneurs.
42 __________ ________
38 __________ ________
34 __________ ________
Posted Date: 3/22/2012 12:14:09 PM | Location : United States
Ask an Expert
Assignment, economics, Assignment Help, Ask Question on Assignment, economics, Get Answer, Expert's Help, Assignment, economics Discussions
Write discussion on Assignment, economics
Your posts are moderated
Write your message here..
Healthcare economic and finance, Which drug is likely to be the most profit...
Which drug is likely to be the most profitable for its producer (in terms of average “per-drug” profit)?
What is the price elasticity of demand for electricity, 1. On Wednesday the...
1. On Wednesday the 16 th , 2008 an enormous avalanche knocked out the lines that transmitted electricity from a hydroelectric dam to Juneau, Alaska. This eliminated Juneau's prima
Demand of pepsi cola goes up, If the quantity demanded of Pepsi Cola goes u...
If the quantity demanded of Pepsi Cola goes up, and its supply enhances what will occur in the market for Pepsi?
Government, A government official announces a new policy. The country wishe...
A government official announces a new policy. The country wishes to eliminate its trade deficit, but will strongly encourage financial investment from foreign firms. Explain why su
Austrian economics, Austrian economics is a brand of neo-classical economic...
Austrian economics is a brand of neo-classical economics that was established in Vienna during the late 19th century & first half of the 20th century. Austrian economics was strong
Market economy, what is market economy and how it solve the central problem...
what is market economy and how it solve the central problem
Short run production period and long run production period, Short run produ...
Short run production period and long run production period: The short run is a period of production during which some factors of production are fixed and some too are variable
Cardinal theory - consumer choice concerning utility, Cardinal Theory: ...
Cardinal Theory: An Introduction In cardinal approach, utility is measured cardinally or numerically in terms of money. The consumer not only knows which one is preferred but
Production, for the total product curve why is it when you reach at maximum...
for the total product curve why is it when you reach at maximum adding more input leads to decline in output?
What is return on investment, What is return on investment? Return on ...
What is return on investment? Return on investment is the profit earned by investing in some business or some project, for instance investment in stock exchange. Profit earned
Accounting Assignment Help
Economics Assignment Help
Finance Assignment Help
Statistics Assignment Help
Physics Assignment Help
Chemistry Assignment Help
Math Assignment Help
Biology Assignment Help
English Assignment Help
Management Assignment Help
Engineering Assignment Help
Programming Assignment Help
Computer Science Assignment Help
IT Courses and Help
Why Us ?
~24x7 hrs Support
~Quality of Work
~Time on Delivery
~Privacy of Work
Human Resource Management
Literature Review Writing Help
Follow Us |
T & C
Copyright by ExpertsMind IT Educational Pvt. Ltd.