Question

TFC	TVC	AFC	AVC	ATC	SMC
50000		xx	xx	xx	xx
5000	5000	50	50	100	50
5000	14000	25	70	95	90
5000	22000	16.66	73.33	90	80
5000	33000	12.5	82.5	95	110
5000	45000	10	90	100	120
5000	61000	8.33	101.66	110	160
5000	79000	7.14	112.85	120	180
5000	99000	6.25	123.75	130	200
5000	121000	5.55	134.44	140	220
5000	145000	5	145	150	240

The world market demand and supply curves for clay fire pots intersect at $190 per unit. Add columns 9, and 10 to show, respectively, total revenue (TR) and marginal revenue (MR). Add column 11 to show a profit (i.e., TR-TC). Add column 12 to show profit per unit (i.e., average profit). Add column 13 to show the profit margin (i.e., price minus average total cost). Submit your Excel spreadsheet to the DropBox. [Hint: At Q = 400: AVC = 82.50, SMC = 110, MR = 190, profit = 38,000, and profit margin = 95].