Output prices average (total)cost Total cost marginal cost Total profit/loss 10 10 -108 20 10 4 -48 30 10 5 3 40 10 6.20 40 50 10 8 60 60 10 10 60 2. i) Find the Average(total)cost, Total cost and marginal cost ii)In which market structure does Johnson Electronics (Pty)Ltd operate? iii)what level of output maximizes the firms profit
Output prices average (total)cost Total cost marginal cost Total profit/loss 10 10 -108 20 10 4 -48 30 10 5 3 40 10 6.20 40 50 10 8 60 60 10 10 60 2. i) Find the Average(total)cost, Total cost and marginal cost ii)In which market structure does Johnson Electronics (Pty)Ltd operate? iii)what level of output maximizes the firms profit
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter11: Price-searcher Markets With High Entry Barriers
Section: Chapter Questions
Problem 14CQ
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Output | prices | average (total)cost | Total cost | marginal cost | Total |
10 | 10 | -108 | |||
20 | 10 | 4 | -48 | ||
30 | 10 | 5 | 3 | ||
40 | 10 | 6.20 | 40 | ||
50 | 10 | 8 | 60 | ||
60 | 10 | 10 | 60 |
2. i) Find the Average(total)cost, Total cost and marginal cost
ii)In which market structure does Johnson Electronics (Pty)Ltd operate?
iii)what level of output maximizes the firms profit
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