cost4 - Additional Problem 4: Part A. (1) Q 0 1 2 3 4 5 6 7...

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Additional Problem 4: Production Costs Part A. Using the following data to construct the appropriate schedules and graphs required below. (1) Q (2) TFC (3) TVC (4) TC (5) MC (6) AFC (7) AVC (8) ATC (9) TR (10) AR (11) MR T Profit or T Loss (-) 0 $15.00 - - - 1 $15.00 $20.00 2 $15.00 35.00 3 $15.00 45.00 4 $15.00 50.00 5 $15.00 60.00 6 $15.00 75.00 7 $15.00 95.00 8 $15.00 120.00 9 $15.00 150.00 10 $15.00 185.00 11 $15.00 225.00 12 $15.00 270.00 13 $15.00 320.00 14 $15.00 375.00 15 $15.00 435.00 1. Fill in columns (4), (5), (6), (7) and (8). (Carry out the cents.) 2. Plot TFC, TVC and TC on a separate graph (Graph I). 3. Plot MC (between the points), AVC and ATC on a separate graph (Graph II).
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2 4. Assuming that product “Q” is sold in a purely competitive market, fill in columns (9), (10), (11) and (12) when the price of “Q” is $50.00 a unit . 5. Plot the Total Revenue Curve from the sale of this product on Graph I. What is the output point that maximized profits? __________ What is the total profit? __________ 6. Plot an AR and MR on Graph II. What is the output point that maximizes profits? __________ What is
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This note was uploaded on 10/26/2009 for the course ECON 180-004-20 taught by Professor Bresnock during the Fall '09 term at UCLA.

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cost4 - Additional Problem 4: Part A. (1) Q 0 1 2 3 4 5 6 7...

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