Question
How much is the total profit at equilibrium price =$30? Table 4 Quantity (Q) Marginal costs (MC) Average variable costs (AVC) Average costs (AC) 0
How much is the total profit at equilibrium price =$30?
| Table 4 | |||
| Quantity (Q) | Marginal costs (MC) | Average variable costs (AVC) | Average costs (AC) |
| 0 | |||
| 1 | 28.00 | 28.00 | $68 |
| 2 | 20.00 | 24.00 | $44 |
| 3 | 16.00 | 21.33 | $35 |
| 4 | 14.00 | 19.50 | $30 |
| 5 | 12.00 | 18.00 | $26 |
| 6 | 17.83 | 17.83 | $25 |
| 7 | 24.00 | 18.43 | $24 |
| 8 | 30.00 | 19.88 | $25 |
| 9 | 40.00 | 22.11 | $27 |
| 10 | 54.00 | 25.30 | $29 |
Step by Step Solution
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Step: 1
To find the total profit at equilibrium price 30 we need to identify the quantity at which marginal ...
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
