# Solving for marginal cost, marginal revenue and total revenue

Add three columns for the marginal cost, marginal revenue and total revenue. Fill in the respective values.

Output Average Fixed cost Average Variable Cost Average Total Cost Price

0 $ 345.00

1 $ 180.00 $ 135.00 $ 315.00 $ 300.00

2 $ 90.00 $ 127.50 $ 217.50 $ 249.00

3 $ 60.00 $ 120.00 $ 180.00 $ 213.00

4 $ 45.00 $ 112.50 $ 157.50 $ 189.00

5 $ 36.00 $ 111.00 $ 147.00 $ 165.00

6 $ 30.00 $ 112.50 $ 142.50 $ 144.00

7 $ 25.71 $ 115.70 $ 141.41 $ 126.00

8 $ 22.50 $ 121.90 $ 144.40 $ 111.00

9 $ 20.00 $ 130.00 $ 150.00 $ 99.00

10 $ 18.00 $ 139.50 $ 157.50 $ 87.00

https://brainmass.com/economics/output-and-costs/solving-marginal-cost-marginal-revenue-total-revenue-556824

#### Solution Summary

The expert solves the marginal cost, marginal revenues and total revenues. Average variable costs with respective values are provided.

Marginal Utility, Revenue, Elasticity of Demand Etc.

1. Given

Equilibrium

Price of A = $20

Price of B = $80

What is the Marginal Utility of product A divided by the Marginal Utility of product B?

2. Given: Total Revenue = $3000

Quantity Sold = 50

Quantity Produced = 75

What was the price?

3. Given: At $20 a hat 100 hats were sold.

At $21 a hat 95 hats were sold.

What is the elasticity of demand (using midpoint formula)?

4. Given: Total Cost = $1000

Average Variable Cost = $10

Quantity Produced = 50

What is the Total Fixed Cost?

5. Given

The cross elasticity of demand between hotdogs and hamburger price = 0.5

What will be the percent change in hotdog sales if the price of hamburgers goes up by 10%?