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Quantity Total Cost(TC) Total Fixed Cost Total Variable Cost Marginal Cost Average Total Cost Average Fixed Cost Average Variable Cost 1 500 750 1000 1250
Quantity Total Cost(TC) Total Fixed Cost Total Variable Cost Marginal Cost Average Total Cost Average Fixed Cost Average Variable Cost 1 500 750 1000 1250 5 1650 2500 1000 6400 a) If the firm's fixed cost is $300, please complete the table above. Price(P) Total Revenue(TR) Total Cost(TC) Marginal Revenue (MR) |Marginal Cost Total Profit 1200 500 1100 750 1000 1000 900 1250 800 1650 700 2500 600 4000 500 6400 b. Complete the table above related to firm revenue and the profit. C. At what output level will HealthPill Corporation maximise its profits. d. How much profit does it earn at the profit maximizing output? e. Is this firm selling in a perfectly competitive market or a monopolistic market? How can you tell
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