Question
Using the formulas for total revenue, marginal revenue, marginal cost, and profit, fill in the table below: Q P TR MR TC MC 0 $200
Using the formulas for total revenue, marginal revenue, marginal cost, and profit, fill in the table below:
| Q | P | TR | MR | TC | MC | |
|---|---|---|---|---|---|---|
| 0 | $200 | $100 | ||||
| 1 | $180 | $110 | ||||
| 2 | $160 | $140 | ||||
| 3 | $140 | $200 | ||||
| 4 | $120 | $300 | ||||
| 5 | $100 | $450 |
1. What is the maximizing level of output (Q)?
*
2. What is the most profitable price? Explain why.
*
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How China Became Capitalist
Authors: Ronald Coase, Ning Wang
1st Edition
1137351438, 9781137351432
