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 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

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