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1

Finance

1.( a ) Complete the following cost and revenue schedules:

                                    Total                Total               Marginal

Quantity   Price         Revenue            Cost                    Cost

0                 $60          

1                   60          

2                   60          

3                   60          

4                   60          

5                   60         

( b ) Graph MC and p .

( c ) What rate of output maximizes profit?

( d ) What is MC at that rate of output?

2. Complete the following cost schedules:

Quantity    0      1      2      3      4      5      6      7

Total cost $9  $12  $16  $21  $30  $40  $52  $66

ATC        

MC          

( a ) Total revenue maximized?

( b ) ATC minimized?

( c ) Profit per unit maximized?

( d ) Total profit maximized?

 

 

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