Table 2 below show the unit prices and quantities of hats produced by a firm...

Table 2 below show the unit prices and quantities of hats produced by a firm
Study it and answer the questions that follows

Quantity Unit Price (S) Total Revenue (S) Marginal Revenue (S)
Average Revenue (S)

10 180 1800 - 180
20 150 3000 120 X
30 U 3600 60 120
40 100 V W Y
50 80 4000 0 80
60 60 3600 40 60
a) Compute the values of U, V, W, X and Y

b) In what type of market is the firm operating? Explain your answer

c) If the firm's marginal cost is $60.00 at all levels of output, at what level of output will it be in equilibrium? Explain your answer

d) If a total cos of $600,00 is incurred when 50 units of hats are produced. Determine the margin of profit or loss made.?

In Economics
1 Answers Available
Asked by Më 😁 on 24th March, 2022