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Solving for marginal cost, marginal revenue and total revenue

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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.

\$2.19

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%?

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