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Homework answers / question archive / Unit 3 assignment: 1) 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           Assuming the price of this product is $10, at what output rate is Total revenue maximized? ATC minimized? Profit per unit maximized? Total profit maximized? 2

Unit 3 assignment: 1) 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           Assuming the price of this product is $10, at what output rate is Total revenue maximized? ATC minimized? Profit per unit maximized? Total profit maximized? 2

Finance

Unit 3 assignment:

1) 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          

Assuming the price of this product is $10, at what output rate is

  1. Total revenue maximized?
  2. ATC minimized?
  3. Profit per unit maximized?
  4. Total profit maximized?

2 .  Complete the following table:

Output

Total Cost

Marginal Cost

Average Total Cost

Average Variable Cost

0

$100.00

 

 

 

5

$110.00

 

 

 

10

$130.00

 

 

 

15

$170.00

 

 

 

20

$220.00

 

 

 

25

$290.00

 

 

 

30

$380.00

 

 

 

35

$490.00

 

 

 

According to the table above,

  1. If the price is $8, how much output will the firm supply?
  2. How much profit or loss will it make?

 (c) At what price will the firm shut down?

 

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