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    Assignment 3 - Answer

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    Ramy Shabana
    This document shows a table with production quantities (Q), total costs (TC), total fixed costs (TFC), total variable costs (TVC), average total costs (ATC), average fixed costs (AF), average variable costs (AVC), marginal costs (MC), price per unit, total revenue (TR), marginal revenue (MR), and profit/loss for a business. It finds that the business should exit the market because the price per unit is always less than the average total cost, meaning the business is operating at a loss at all levels of production.

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    Assignment 3 - Answer

    Uploaded by

    Ramy Shabana
    15 views1 page
    This document shows a table with production quantities (Q), total costs (TC), total fixed costs (TFC), total variable costs (TVC), average total costs (ATC), average fixed costs (AF), average variable costs (AVC), marginal costs (MC), price per unit, total revenue (TR), marginal revenue (MR), and profit/loss for a business. It finds that the business should exit the market because the price per unit is always less than the average total cost, meaning the business is operating at a loss at all levels of production.

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    This document shows a table with production quantities (Q), total costs (TC), total fixed costs (TFC), total variable costs (TVC), average total costs (ATC), average fixed costs (AF), average variable costs (AVC), marginal costs (MC), price per unit, total revenue (TR), marginal revenue (MR), and profit/loss for a business. It finds that the business should exit the market because the price per unit is always less than the average total cost, meaning the business is operating at a loss at all levels of production.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    15 views1 page

    Assignment 3 - Answer

    Uploaded by

    Ramy Shabana
    This document shows a table with production quantities (Q), total costs (TC), total fixed costs (TFC), total variable costs (TVC), average total costs (ATC), average fixed costs (AF), average variable costs (AVC), marginal costs (MC), price per unit, total revenue (TR), marginal revenue (MR), and profit/loss for a business. It finds that the business should exit the market because the price per unit is always less than the average total cost, meaning the business is operating at a loss at all levels of production.

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    © All Rights Reserved
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    of 1

    Problem 5

    Q TC TFC TVC ATC AF AVC MC Price / Unit TR MR Profit / Loss


    0 100 100 0 x x x 50 0 -100
    1 150 100 50 150.00 100.00 50.00 50 50 50 50 -100
    2 170 100 70 85.00 50.00 35.00 20 50 100 50 -70
    3 190 100 90 63.33 33.33 30.00 20 50 150 50 -40
    4 240 100 140 60.00 25.00 35.00 50 50 200 50 -40
    5 300 100 200 60.00 20.00 40.00 60 50 250 50 -50
    6 460 100 360 76.67 16.67 60.00 160 50 300 50 -160
    as the Price of the good (50) is less than the ATC on all levels of production,
    Business should Exit the Market
    Problem 7

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