Economics 2167A/B Midterm: Chapter 6 Question
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18 Mar 2019
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| Quantity | Total Cost | Average Cost | Marginal Cost |
| 0 | $4 | $4 | $5 |
| 1 | $9 | $9 | ($3) |
| 2 | $13 | $7 | ($1) |
| 3 | $16 | $5 | ($1) |
| 4 | $18 | $5 | ($0) |
| 5 | $22 | $4 | $0 |
| 6 | $28 | $5 | $0 |
| 7 | $36 | $5 | $1 |
| 8 | $46 | $6 |
Question 13: Find the monopolist's equilibrium quantity
Question 14: What is the equilibrium price?
Question 15: What is the firm's fixed cost?
Chapter 9
What is the profit-maximizing level of output and price?
What is the amount of total profit?
|
Quantity |
Price |
Total Revenue (dollars) |
Marginal revenue |
Total Cost |
Marginal cost |
|
1 |
22 |
6 |
6 |
||
|
2 |
20 |
14 |
8 |
||
|
3 |
18 |
26 |
12 |
||
|
4 |
16 |
44 |
18 |
||
|
5 |
14 |
72 |
28 |
||
|
6 |
12 |
112 |
40 |
||
|
7 |
10 |
166 |
54 |
||
|
8 |
8 |
236 |
70 |
