Question
a) Complete the following table: Price $40 $35 $30 $25 $20 $15 $10 $5 Quantity Demanded 1 2 3 4 5 6 7 8 Total
a) Complete the following table:
| Price | $40 | $35 | $30 | $25 | $20 | $15 | $10 | $5 |
| Quantity Demanded | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
| Total revenue | ||||||||
| Marginal Revenue |
b) If marginal cost is constant at $30, what is the profit-maximizing output?
c) What price should be charged at that output?
d) If this firm has no fixed costs, what is the profit at this output?
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Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
