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..
Limitations of the services sector, Limitations of the Services Sector: ...
Limitations of the Services Sector: The services sector in India, as at present, suffers from low productivity and low quality in spite of fairly large investment in technolog
Money creation process, The Money Creation Process is explained below: ...
The Money Creation Process is explained below: We can now study the money supply or the creation process. Suppose the government wishes to buy pencils worth Rs. 10 for the offi
Collective opinion method, This is also known as sales force Opinion Method...
This is also known as sales force Opinion Method. In this method instead of consumers the opinion of the salesmen is sought. It is sometimes referred as the grassroots approach as
Physical accounting, Normal 0 false false false EN-IN ...
Normal 0 false false false EN-IN X-NONE X-NONE MicrosoftInternetExplorer4
fundmentals of welfare economics, what are fundamentals of welfare econom...
what are fundamentals of welfare economics?
What is demographic transition, What is demographic transition In the w...
What is demographic transition In the world today not all nations have gone through their demographic transitions. Many countries today aren't rich enough to have begun populat
Negative profit, Negative profit FC + VC > R(q) MR > MC ...
Negative profit FC + VC > R(q) MR > MC Indicates higher profit at the higher output - Question: Why is profit negative when the output is zero? - Outp
Consumer equlibrium, have to do a group project on consumer equlibrium. plz...
have to do a group project on consumer equlibrium. plz help on wat sub topics to select (i am in college 1st year)
Maneferial, Plot the demand schedule and draw the demand curve for the data...
Plot the demand schedule and draw the demand curve for the data given for Marijuana
TOTAL REVENUE AVERAGE REVENUE AND MARGINAL REVENUE, CASE STUDY IN RELATION ...
CASE STUDY IN RELATION WITH TOTAL REVENUE,AVERAGE REVENUE AND MARGINAL REVENUE
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.