JIPU Uluylus.
43) The market demand curve for a commodity and the total cost for a
monopoly firm producing the commodity is given by the schedules below
Use the information to calculate the following.
0
1
2
Quantity
Price
3
4
5
6
7
8
52
44
36
31
26
22
19
16
13
0
1
2
3
4
5
6
Quantity
Total cost
7
8
10
60
90
100
102
105
109
115
125
(a) The MR and MC schedules
(b) The quantities for which the MR and MC are equal
(c)
The equilibrium quantity of output and the equilibrium price of the
commodity
(d) The total revenue, total cost, and total profit in equilibrium
in this how to calculate MR and how to find value of n
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