The following questions address some of the price and output decisions faced by
ID: 1181487 • Letter: T
Question
The following questions address some of the price and output decisions faced by firms other than those found in perfect competition. Some numbers may be rounded.
Table 1
Average Fixed cost
Average Variable Cost
Average Total Cost
Marginal Cost
Price
Total Revenue
Marginal Revenue
0
$ 345.00
1
$ 180.00
$ 135.00
$ 315.00
$ 300.00
2
$ 90.00
$ 127.50
$ 217.50
$ 249.00
3
$ 60.00
$ 120.00
$ 180.00
$ 213.00
4
$ 45.00
$ 112.50
$ 157.50
$ 189.00
5
$ 36.00
$ 111.00
$ 147.00
$ 165.00
6
$ 30.00
$ 112.50
$ 142.50
$ 144.00
7
$ 25.71
$ 115.70
$ 141.41
$ 126.00
8
$ 22.50
$ 121.90
$ 144.40
$ 111.00
9
$ 20.00
$ 130.00
$ 150.00
$ 99.00
10
$ 18.00
$ 139.50
$ 157.50
$ 87.00
Questions:
Present your analysis in Microsoft Excel format. Enter non-numerical responses in the same worksheet using textboxes. If you want to learn how to use Microsoft Excel to create curves, refer to the Microsoft Excel tutorials.
Output
Average Fixed cost
Average Variable Cost
Average Total Cost
Marginal Cost
Price
Total Revenue
Marginal Revenue
0
$ 345.00
1
$ 180.00
$ 135.00
$ 315.00
$ 300.00
2
$ 90.00
$ 127.50
$ 217.50
$ 249.00
3
$ 60.00
$ 120.00
$ 180.00
$ 213.00
4
$ 45.00
$ 112.50
$ 157.50
$ 189.00
5
$ 36.00
$ 111.00
$ 147.00
$ 165.00
6
$ 30.00
$ 112.50
$ 142.50
$ 144.00
7
$ 25.71
$ 115.70
$ 141.41
$ 126.00
8
$ 22.50
$ 121.90
$ 144.40
$ 111.00
9
$ 20.00
$ 130.00
$ 150.00
$ 99.00
10
$ 18.00
$ 139.50
$ 157.50
$ 87.00
Explanation / Answer
Output Average Fixed Cost Average Variable Cost Average Total Cost Fixed Cost Variable Cost Total Cost Marginal Cost Price Total Revenue Marginal Revenue Profit 0 345 0 1 180 135 315 180 135 315 315 300 300 300 -15 2 90 127.5 217.5 180 275 435 120 249 498 198 63 3 60 120 180 180 360 540 105 213 639 141 99 4 45 112.5 157.5 180 450 630 90 189 756 117 126 5 36 111 147 180 555 735 105 165 825 69 90 6 30 112.5 142.5 180 675 855 120 144 864 39 9 7 25.71 115.7 141.41 180 809.9 989.87 134.87 126 882 18 -107.87 8 22.5 121.9 144.4 180 975.2 1155.2 165.33 111 888 6 -267.2 9 20 130 150 180 1170 1350 194.8 99 891 3 -459 10 18 139.5 157.5 180 1395 1575 225 87 870 -21 -705
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