Given information in the following table: Quantity Price (RM) Total Cost 60 18 58 20 3. 54 24 4 48 30 5 40 38 28 50 7. 14 70

Survey Of Economics
10th Edition
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 9SQP
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A Exercise (Structured Questions)
G bought goods on credit from lab x
deby
TUZMJK4/a/MJM4NDI3MTA5M)YY/details
cost, average fixed cost, long
marginal revenue is
Open with Google Docs
fit.
run average cost, total
3. Given information in the following table:
Quantity
Price (RM)
Total Cost
60
18
58
20
3.
54
24
48
30
5
40
38
28
50
14
70
b. Determine the quantity produced by the firm
c. How much does the firm earn in terms of profit"
d. What is the average cost of the firm?
e Sketch the AC, AR, MR and MC curve without a seale.
Transcribed Image Text:A Exercise (Structured Questions) G bought goods on credit from lab x deby TUZMJK4/a/MJM4NDI3MTA5M)YY/details cost, average fixed cost, long marginal revenue is Open with Google Docs fit. run average cost, total 3. Given information in the following table: Quantity Price (RM) Total Cost 60 18 58 20 3. 54 24 48 30 5 40 38 28 50 14 70 b. Determine the quantity produced by the firm c. How much does the firm earn in terms of profit" d. What is the average cost of the firm? e Sketch the AC, AR, MR and MC curve without a seale.
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