The cost and output schedule of a firm is shown in the table below.

Output (kg) 0 15 35 60 85
Variable cost ($) 0 30 55 75 90
Total cost ($) 15 45 70 90 105
Total revenue ($) 0 30 70 120 170

(a) Using the data in the table, at each level of output, calculate the firm's
(i) marginal revenue
(ii) marginal cost.

(b) At what output level did the firm:
(i) break even
(ii) make the highest profit
(iii) attain equilibrium

(c) Identify the market structure in which the firm operates

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Discussions (8)

EmmanuelB211
3 years ago

Output (kg) 0 15 35 60 85
Variable cost ($) 0 30 55 75 90
Total cost ($) 15 45 70 90 105
Total revenue ($) 0 30 70 120 170
(a) Using the data in the table, at each level of output, calculate the firm's
(i) marginal revenue
(ii) marginal cost.

(b) At what output level did the firm:
(i) break even
(ii) make the highest profit
(iii) attain equilibrium

(c) Identify the market structure in which the firm operates

wealthKola
8 months ago

I don't really get that "a" part

JasonScott123
7 months ago

I don't understand that part that says can't use function '$' in math code

BALDIE
7 months ago

hi

wealthKola
8 months ago

I don't really get that "a" part;

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