ECON 291 : Econ 291 Chapter 10 study questions
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12 Nov 2011
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Related Questions
2. Does this fourth shirt earn an operating profit or impose an operating loss? How large is it?
3. What is the change in total revenue from lowering the price to sell seven rather than six shirts in each color each day? In what sense is the decision to sell this seventh shirt a Γ’ΒΒbreak pointΓ’ΒΒ?
8. At 14 shirts per day, the margin is positive. But what is the operating profit or loss on the 14th? The 12th? The 10th shirt?
Quantity | Price | Revenue | Marginal Rev | Variable Cost |
0 | 50 | 0 | 0 | 28 |
1 | 48 | 48 | 48 | 28 |
2 | 46 | 92 | 44 | 28 |
3 | 45 | 135 | 43 | 28 |
4 | 44 | 176 | 41 | 28 |
5 | 42 | 210 | 34 | 28 |
6 | 40 | 240 | 30 | 28 |
7 | 38.31 | 268.17 | 28 | 28 |
8 | 36.5 | 292 | 24 | 28 |
9 | 34.5 | 310.5 | 19 | 28 |
10 | 32.7 | 327 | 16 | 28 |
11 | 30.91 | 340.01 | 13 | 28 |
12 | 29.17 | 350.04 | 10 | 28 |
13 | 27.46 | 356.98 | 7 | 28 |
14 | 25.79 | 361.06 | 4 | 28 |
15 | 24.07 | 361.05 | 0 | 28 |
16 | 22.5 | 360 | -1 | 28 |