1.What is the maximum profit output when price is 12?

Compute the total revenue and the profit.Compute the profit using the average cost figures.

2.Using the MC figure, compute the change in profit and the new profit level with an additional unit produced beyond the maximum profit.

3.Again, using the MC figure, compute the same variable with output reduced by one (1) unit from the said point.

A.Illustrate the effects of the following on the following on the MC, AC, and MR curves.

a.Decrease in selling price

b.Increase in wages and salaries

c.Decreasing efficiency of machines because of age

B.Using the MC and MR curves, predict the effect of the following on profit.

a.Increase in material input prices

b.Higher price

c.Less output but the same price

d.More efficient machine

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