Attachment # 00000771 - Economics_Micro_Problems.xlsx
Economics_Micro_Problems.xlsx (12.59 KB)
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(refer to the detailed question and attachment below)
OutputsPriceTFCTVCTCAVCATCTotal RevenueMarginal RevenueMarginal CostBreakeven pricefixed costs FC are easy. What are the total costs TC when Q=0 that is fixed costs. TVC are what are the TC minus FC AVC what is the AVC / Q TFC = TC when Q=0 TVC = TC - FC AVC = VC / Q finally max profits is where MC = MR or as close as you can get. If you could set 2 < Q < 3 you could increase profits but if you can't then 2 or 3 gets the same profitmarginal revenue, marginal cost and profit.MPP= What is the profit maximizing price?How much profit (loss) will be made? Breakeven price= 100What is Shut down Price= ?

Economics Micro Problems

Question # 00005133 Posted By: expert-mustang Updated on: 12/10/2013 10:41 PM Due on: 12/11/2013
Subject Economics Topic Microeconomics Tutorials:
Question
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Outputs Price TFC TVC TC AVC ATC 0 125 50 1 120 160 2 115 260 3 110 350 4 105 430 5 100 500 6 95 560 7 90 610 8 85 650 9 80 750 10 75 950

 

fixed costs FC are easy. What are the total costs TC when Q=0 that is fixed costs.
TVC are what are the TC minus FC
AVC what is the AVC / Q
TFC = TC when Q=0
TVC = TC - FC
AVC = VC / Q
finally max profits is where MC = MR or as close as you can get. If you could set 2 < Q < 3 you could increase profits but if you can't then 2 or 3 gets the same profit
marginal revenue, marginal cost and profit.

Outputs Price TFC TVC TC AVC ATC Total Revenue Marginal Revenue Marginal Cost Breakeven price
0 125 50 0 50 0 0 0 0 50 -50
1 120 50 110 160 110 160 120 120 110 -40
2 115 50 210 260 105 130 230 110 100 -30
3 110 50 300 350 100 116.67 330 100 90 -20
4 105 50 380 430 95 107.5 420 90 80 -10
5 100 50 450 500 90 100 500 80 70 0
6 95 50 510 560 85 93.333 570 70 60 10
7 90 50 560 610 80 87.143 630 60 50 20
8 85 50 600 650 75 81.25 680 50 40 30
9 80 50 700 750 77.77778 83.333 720 40 100 -30
10 75 50 900 950 90 95 750 30 200 -200

 

fixed costs FC are easy. What are the total costs TC when Q=0 that is fixed costs.
TVC are what are the TC minus FC
AVC what is the AVC / Q
TFC = TC when Q=0
TVC = TC - FC
AVC = VC / Q
finally max profits is where MC = MR or as close as you can get. If you could set 2 < Q < 3 you could increase profits but if you can't then 2 or 3 gets the same profit
marginal revenue, marginal cost and profit.

Breakeven price= 100
What is Shut down Price= ?
What is the profit maximizing price?
How much profit (loss) will be made?
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Tutorials for this Question
  1. Tutorial # 00004928 Posted By: expert-mustang Posted on: 12/10/2013 10:43 PM
    Puchased By: 2
    Tutorial Preview
    in this case, at BEP: ...
    Attachments
    Solution_to_Economics_Micro_Problems.xlsx (13.69 KB)
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