Suppose the government artificially sets the price of units to $20. At this price is the company willing to sell the product. Please explain why or why not.
|
Quantity (Q)
|
Price (P)
|
Total Revenue (TR)
|
Marginal Revenue (MR)
|
Total Cost (TC)
|
Average Cost (AC)
|
Marginal Cost (MC)
|
Profit
|
|
0
|
60
|
0
|
X
|
100000
|
X
|
X
|
100000
|
|
1000
|
55
|
55000
|
55
|
106000
|
106
|
6
|
51000
|
|
2000
|
50
|
100000
|
45
|
114000
|
57
|
8
|
14000
|
|
3000
|
45
|
135000
|
35
|
124000
|
41
|
10
|
11000
|
|
4000
|
40
|
160000
|
25
|
136000
|
34
|
12
|
24000
|
|
5000
|
35
|
175000
|
15
|
150000
|
30
|
14
|
25000
|
|
6000
|
30
|
180000
|
5
|
166000
|
28
|
17
|
14000
|
|
7000
|
25
|
175000
|
5
|
184000
|
25
|
18
|
9000
|
|
8000
|
20
|
160000
|
15
|
204000
|
25
|
20
|
44000
|
|
9000
|
15
|
135000
|
25
|
226000
|
25
|
22
|
91000
|
|
10000
|
10
|
100000
|
35
|
250000
|
25
|
24
|
150000
|