A. What is the profit-maximizing price and quantity?
B. What is the revenue-maximizing price and quantity?
C. When total cost exceeds total revenue, profits are?
Extracted text: Complete Table Below (1-9): Sum all orthe fixed costs from Price x Quatity above. TFC does not vary from unit to Unit variable Total cost (average Variable Cost + Total Fixed Cost TFC + |TVC Total Revenue - Total Cost TR - TC Change in |(Total Revenue) |/(Change in |Quantity) |Change in |(Total Cost) /(Change in Quantity) Total Cost / Quantity TC / Q Total Variable Cost / Quantity TVC / Q Basic Formula variable) x Quantity AVC x Q Px Q Excel formulas for the various functions: Using the power of Excel (first row formulas) use Fill- Down function to complete each column to save yourself from creating a calculation in each cell (very time-consuming). Ignore the : mark when creating the formulas. See the next worksheet for instructios for using the fill- :=sum (d15- :=sum(g15- d14)/(c15- c14) g14)/(c15- c14) :=b14*c14 Enter figure :=50*C14 :=e14+f14 :=d14-g14 :=g15/c15 :=f15/c15 3) Total Variable Cost4) Total Cost (TVC) 6) Marginal Revenue (MR) Cost (MC) -$350 8) Average Total Cost 9) Average Variable Cost (AVC) Price/Demand Curve (surfboards) 1) Total Revenue 2) Total Fixed Cost (TFC) $300 7) Marginal |Quantity $300 $290 (TR) (TC) 5) Profit (ATC) 1 $600 50 $650 $580 $280 $260 350.0 250.0 200.0 170.0 150.0 2 $600 100 $700 -$120 50.00 50 $600 $600 $90 $280 $280 3 $840 150 $750 50.00 50 $270 4 200 $240 $1,080 $1,300 $1,500 $1,680 $1,840 $1,980 $2,100 $2,200 $2,280 $2,340 $2,380 $2,400 $2,400 $2,380 $2,340 $2,280 $2,200 $2,100 $800 50.00 50 250 $450 $600 $730 $260 $600 $850 $220 50.00 50 $250 6 $600 300 $900 $200 50.00 50 50 $180 $160 $140 $240 7 $600 350 $950 50.00 135.7 $1,000 $1,050 $1,100 $1,150 $1,200 $1,250 $1,300 $1,350 $1,400 $1,450 $1,500 $1,550 $1,600 400 $840 50 50 $230 8 $600 50.00 125.0 450 500 $220 9 $600 $930 50.00 116.7 $1,000 $1,050 $1,080 $1,090| $1,080 $1,050 $1,000 10 $120 $100 $210 $600 50.00 110.0 50 104.5 550 600 $200 11 $600 50.00 50 $80 $60 $40 $20 $0 50 50 $190 12 $600 50.00 100.0 $180 13 $600 650 50.00 96.2 $170 14 $600 700 50.00 92.9 50 $160 15 $600 750 50.00 90.0 50 800 50 50 $150 16 $600 50.00 87.5 $140 85.3 850 900 17 $600 $930 -$20 50.00 $130 18 $600 $840 -$40 50.00 83.3 50 $120 950 $730 $600 $450 19 $600 -$60 50.00 81.6 50 $110 20 $600 1000 -$80 50.00 80.0 50 $100 21 $600 1050 $1,650 -$100 50.00 78.6 50 88::::8:::::8:::::88