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ECO401 Assignment#02 Solution & Discussion Due Date: 02-06-2011

See the attached file please

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Please Discuss here about this assignment.Thanks

ok yup

A. Calculate total revenue (TR), marginal revenue (MR), total cost (TC),

marginal cost (MC) and profit (π) for each level of output (Q).

Q

P

TFC

TVC

TR(p*Q)

MR(dTR/dq)

TC(TFC+TVC)

MC(dTC/dQ)

Profit(π)

400

2.5

150

750

  1000

-

900

      -

100

500

2.25

150

830

1125

125

980

80

145

600

2

150

905

1200

75

1055

75

145

700

1.75

150

995

1225

25

1145

90

80

 

 

 

 

 

 

 

 

 

See the attached file please
Attachments:
TR ..............MR.............TC ...............MC.........PROFIT
1000........... - . ........ 900 .............. - .......... 100
1125 ........125 ...........980 ............ 80............ 145
1200......... 75............... 1055........... 75......... 145
1225.............. 25 ............ 1145............ 90........... 80


B)Profit is maximize at 3 point where MR=MC
Thank yu but plzz complete rite sol need........
ECO401 assignment #2 Idea solution

Only part A solution



TR = P * Q
MR = change in TR / change in Q
MC = change in TC / change in Q
TC = TVC + TFC

Profit = TR - TC

Apply the formula:
TR MR TC MC Profit
1000 --- 900 --- 100
1125 1.25 980 0.8 145
1200 0.75 1055 0.75 145
1225 0.25 1145 0.9 80

B:
3rd point on outputs..i-e..600
See the attached file for another idea solution of ECO401 Assignment#02 Spring 2011
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ECO401 Assignment#02 one more idea solution see the attached file please
Attachments:

  Assignment # 2

 

Question:

A firm operating in competitive environment faces the following price (P),quantity (Q), total fixed cost (TFC) and total variable cost (TVC) schedules respectively:

 

A. Calculate total revenue (TR), marginal revenue (MR), total cost (TC),marginal cost (MC) and profit (π) for each level of output (Q).

 

 

Solution:-

 

 

    Q

    P

  TFC

  TVC

   TR

  MR

   TC

  MC

   π

   400

   2.5

  150

  750

 1000

   —

  900

   —

  100

   500

 2.25

  150

  830

 1125

 1.25

  980

   0.8

  145

   600

   2

  150

  905

 1200

 0.75

1055

 0.75

  145

   700

 1.75

  150

  995

 1225

 0.25

1145

   0.9

   80

 

B. Find the optimal level of output and price which maximizes firm’sprofit.

 

Answer:-

           As we know that profit is maximized at the point where MC = MR. The optimal level of Output (Q) and Price (P) at which maximizes firm’s profit is 600 and 2.  

Attachments:
See the attached file for one more idea solution of ECO401
Attachments:
Thanks A Lot Tariq  Bhai Really Nice Effort

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