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Economics Micro Problems

Question # 00005133
Subject: Economics
Due on: 12/11/2013
Posted On: 12/10/2013 10:41 PM

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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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Tags problems micro economics fcavc profits costs price close gets profitmarginal cost profit revenuemarginal marginal revenue increase total qfinally easy coststvc fixed q0tvc minus qtfc shut nbspfixed pricehow 100what maximizing profitoutputspricetfctvctcavcatctotal outputs costbreakeven price012550050000050501120501101601101601201201104021155021026010513023011010030311050300350100116673301009020410550380430951075420908010510050450500901005008070069550510560859333357070601079050560610808714363060502088550600650758125680504030980507007507777778833337204010030107550900950909575030200200nbspfixed

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Solution for Economics Micro Problems

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Posted On: 12/10/2013 10:43 PM
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Tutorial Preview …in xxxx case, xx BEP: Q* x 5 units xxx $100 xxxxxxxx xxxxx At xxxxxxxx price, MR xx below AVC xx output xxxxx x units, xxxxxxxxx So, shutdown xxxxx is: $105 xxxxxx maximization xxxxx xx profit xxxxxxxxxxxx level, MR x MC Here, xxxxxxxx…
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Solution_to_Economics_Micro_Problems.xlsx (13.69 KB)
Preview: output xxxxx at xxxxx TC = xxxxx in this xxxxx at xxxxxx xx unitsP*=Shutdown xxxxxxx shutdown price, xx is below xxxxx output xxxxx x units, xxxxxxxxx So, shutdown xxxxx is: $105Profit xxxxxxxxxxxx priceAt xxxxxx xxxxxxxxxxxx level, xx = MCHere, xxxxxxxx.....
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