cost examples monopoly

cost examples monopoly - 3 60 Production Function 40 Y 1.5...

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Unformatted text preview: 3 60 Production Function 40 Y 1.5 dollars 50 2 Output 2.5 30 1 20 0.5 10 0 0 0 5 10 15 20 25 30 0 Labor 60 20 Total Revenue & Costs 50 15 TC 30 TR 20 dollars / unit dollars 40 10 5 0 10 0 -5 0 0 5 10 15 Labor 20 25 30 -10 w FC Costs TC VC 2 5 shape of production function A 2 B 2 const -1.10715 FC shape of demand curve D 20 E 5 0.5 1 1.5 2 2.5 3 dashed lines are optimal values Output Costs & Demand AFC AVC ATC MC MR D 0 0.5 1 1.5 Output 2 2.5 3 oduction function mand curve ...
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