Week 4 Project Table and Graph.xlsx

# Week 4 Project Table and Graph.xlsx - Economic profit is...

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OUTPUT OUTPUT 0 0 1 180 \$135.00 \$315.00 1 -\$315.00 2 90 \$127.50 \$217.50 2 \$97.50 3 60 \$120.00 \$180.00 3 \$37.50 4 45 \$112.50 \$157.50 4 \$22.50 5 36 \$111.00 \$147.00 5 \$10.50 6 30 \$112.50 \$142.50 6 \$4.50 7 25.71 \$115.70 \$141.41 7 \$1.09 8 22.5 \$121.90 \$144.40 8 -\$2.99 9 20 \$130.00 \$150.00 9 -\$5.60 10 18 \$139.50 \$157.50 10 -\$7.50 OUTPUT OUTPUT 0 0 1 180 \$135.00 \$315.00 1 -\$315.00 Normal profit - occur when the difference between a firms total revenue and toal cost is equal to zero Economic profit - is the difference between the revenue receivedfrom the sale of an output and the opportunity cost of the inputs used. AVG. FIXED COST AVG. VARIABLE COST AVG. TOTAL COST MARGINAL COST AVG. FIXED COST AVG. VARIABLE COST AVG. TOTAL COST MARGINAL COST

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2 90 \$127.50 \$217.50 2 \$97.50 3 60 \$120.00 \$180.00 3 \$37.50 4 45 \$112.50 \$157.50 4 \$22.50 5 36 \$111.00 \$147.00 5 \$10.50 6 30 \$112.50 \$142.50 6 \$4.50 7 25.71 \$115.70 \$141.41 7 \$1.09 8 22.5 \$121.90 \$144.40 8 -\$2.99 9 20 \$130.00 \$150.00 9 -\$5.60 10 18 \$139.50 \$157.50 10 -\$7.50
PRICE \$345.00 \$0.00 #DIV/0! \$300.00 \$300.00

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