4.8
4.9
4.7

# Marginal cost and Marginal revenue

Assignment 2: Market Forms
For
this assignment you will do a significant portion of work in MS Excel and
import it into an MS Word document for submission. You will use the data below
to address Price and Output decisions faced by firms that are not in pure competition. Some numbers may be rounded.

Table 1

Output

Average Fixed cost

Average Variable Cost

Average Total Cost

Marginal Cost

Price

Total Revenue

Marginal Revenue

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

the following:

Complete Table-1. Summarize
Prepare a chart showing:

Average Fixed Costs
Average Variable Costs
Average Total Costs
Marginal Revenue
Marginal Costs

Using the data in the table and
on your graph, explain the profit
maximizing, or loss minimizing level of output.
Define a normal profit and an economic
profit. Are normal profits being
earned in this example? Are economic profits present for this firm in this
Given the data in the table and
the graph, what type of market
structurecould this be in the short run?
If the data in Table-1
represents the long run, what type of firm must this data represent?

Save
your MS Word document using the filename LastnameFirstInitial_M4A2 and submit it to the M4: Assignment
2 Dropbox by Wednesday,
November 5, 2014.

Quotations, paraphrases, and ideas you get from books, articles, or other
sources of information should be cited using APA style. Help with citing sources can
be found through the Academic Resources page under Course Home.

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