If bookstore ABC Books determines it is going to sell books at its profit-maximizing price of $18
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Question:
If bookstore ABC Books determines it is going to sell books at its profit-maximizing price of $18 in a market facing monopolistic competition, calculate total profit for the store.
Quantity | Price | Total Revenue | Marginal Revenue | Total Cost | Marginal Cost |
---|---|---|---|---|---|
0 | $28 | $0 | - | $300 | - |
10 | $25 | $250 | $25 | $360 | $6 |
20 | $22 | $440 | $19 | $440 | $8 |
30 | $20 | $600 | $16 | $540 | $10 |
40 | $18 | $720 | $12 | $660 | $12 |
50 | $16 | $800 | $8 | $800 | $14 |
60 | $14 | $840 | $4 | $960 | $16 |
calculate total profit for the store.
Related Book For
Financial Algebra advanced algebra with financial applications
ISBN: 978-0538449670
1st edition
Authors: Robert K. Gerver
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