Problem
|
Output
|
Fixed Cost
|
Variable Cost
|
Total Cost
|
Average Fixed Cost
|
Average Variable Cost
|
Average Total Cost
|
Marginal Cost
|
|
0.00
|
100.00
|
0
|
100
|
0
|
0
|
0
|
0
|
|
1.00
|
100
|
100
|
200.00
|
100
|
100
|
200
|
100
|
|
2.00
|
100
|
180
|
280.00
|
50
|
90
|
140
|
180
|
|
3.00
|
100
|
230
|
330.00
|
33.30
|
76.67
|
110
|
50
|
|
4.00
|
100
|
330
|
430.00
|
25
|
82.50
|
107.50
|
100
|
|
5.00
|
100
|
480
|
580.00
|
20
|
96
|
116
|
150
|
|
6.00
|
100
|
680
|
780.00
|
16.67
|
113.33
|
197.50
|
200
|
|
7.00
|
100
|
980
|
1,080.00
|
14.29
|
140
|
154.29
|
300
|
|
8.00
|
100
|
1480
|
1,580.00
|
12.5
|
185
|
197.50
|
500
|
Task
1) Assume the company, above, is in a Perfect Competition Industry: if a product is sold at $200, what will the profits be, and how many will be sold at that price? Can the company raise the price?
2) Assume the company, above, is in a Perfect Competition Industry: What would the profit situation be at a price of $300? How many should be sold at that price?
3) Assume the company, above, is in a Perfect Competition Industry: What would the profit situation be at a price of $100? How many should be sold at that price?