A firm’s cost curves are given in the following table. q TC TFC TVC AVC ATC MC Revenue Profit 0 RO100 RO100 1 140 100 2 160 100 3 170 100 4 182 100 5 195 100 6 220 100 7 250 100 8 290 100 9 340 100 10...

A firm’s cost curves are given in the following table.

q	TC	TFC	TVC	AVC	ATC	MC	Revenue	Profit
0	RO100	RO100
1	140	100
2	160	100
3	170	100
4	182	100
5	195	100
6	220	100
7	250	100
8	290	100
9	340	100
10	400	100

Complete the table.

Graph AVC, ATC and MC on the same graph. What is the relationship between the MC curve and the ATC and between MC and AVC?

Suppose the market price is RO 60, how much will the firm products in the short run? How much are the total profits?

Jun 08, 2022

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