Calculate total revenue-marginal revenue-marginal cost, Cost Accounting

In the beach city of Santa Barbara, California, there are seven bathing suit stores, each with the same schedule of costs and each facing an identical demand curve. Swim N Style is a typical store:

                                       Suits sold
                                       (per hour)           Price           Total Cost

                                                1                    $68                  $70

                                                2                      66                    80

                                                3                      64                    85

                                                4                      62                    90

                                                5                      60                  100

                                                6                      58                  115

                                                7                      56                  136

                                                8                      54                  164

                                                9                      52                  200

                                              10                      50                  245

a)   Calculate total revenue, marginal revenue, marginal cost and average cost at each level of sales for the store.

b)   If Swim N Style is a profit maximizer, what number of suits will it sell per hour? What will its price and profit be?

Posted Date: 3/30/2013 3:34:24 AM | Location : United States

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