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True North Railways, which is the sole provider of passenger rail service to a remote community, has revenues and costs shown in the table below.
True North Railways, which is the sole provider of passenger rail service to a remote community, has revenues and costs shown in the table below. (5) (1) (2) Marginal (6) Price Quantity (3) (4) Revenue Marginal Cost ($ per (passengers per Total Revenue Total Cost ($ per ($ per passenger) day) ($) ($ ) passenger) passenger) 600 0 0 25, 000 O O 500 50 25000 27, 000 540 540 400 100 40000 28, 000 400 400 300 150 45000 28, 150 300 300 200 200 40000 28, 250 200 200 100 250 25000 29, 250 100 100 0 300 O 34, 750 a. Fill in the above table. Enter all dollar values in the table and answers below with no cents -- i.e. "10" not "10.00. Remember to include a minus sign (-) in front of any negative values entered. b. True North's ( profit-maximizing quantity (using the quantities shown in the table above) is[ passengers and the price it charges is $ [ c. At this quantity, True North is making a short-run ((Click to select) + ) of $
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