Calculate the marginal revenue for the firm and state


Question:

Revenues And Costs

The following data refer to the revenue and costs of a firm.

Output Total revenue

0

Total costs 
110

1

50

140

2

100

162

3

150

175

4

200

180

5

250

185

6

300

194

7

350

219

8

400

269

9

450

325

10

500

425



 Required

  • Calculate the marginal revenue for the firm and state which sort of market it is operating in.
  • Calculate the firm's fixed costs and the marginal cost at each level of output
  • What level of output will the firm aim to produce and what amount of profit will it

make at this level?

  • Describe and explain the effect on the firm's output and profits of the entry of new producers into the industry.

 

 


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Accounting Basics: Calculate the marginal revenue for the firm and state
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