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Answer No. 1

MR = MC = 240

Where as MR = MC = P / {1 + (1/E)}

 

                                    P = MC / {1 + (1/E)}

                                    P = 240 / {1+ (1/-2.5)}

                                    P = 240 / {1+ (-0.4)}

                                    P = 240/ 0.6

                                    P = 400

 

The optimum level of price that should be set to get the maximum level of higher profit is

400.

Answer No. 2

                       

TC   = 10 + 5Q + 15Q2       

                                    MC = dTC / dQ                            

                                    MC = 5 + 30Q                                   

                                     240 = 5 + 30Q

                                        Q = 7.83

Putting the value of Q in equation (2)

(A)

TC = 10 + 5Q + 15Q2

                                    TC = Fix Cost + Variable Cost

                                    VC = 5Q + 15Q2                 …………………… (2)

                                                VC = 5(7.83) + 15(7.83) 2

                                    VC = 958.78

Variable cost is 958.78

(B) Average Total Cost                                    

ATC = TC / Q

ATC = 10 / 7.83 + 5(7.83) / 7.83 + 15(7.83)2 / 7.83

ATC = 1.28 + 5 + 117.45

ATC = 123.73

 

 

 

 

 

 

(C) Average Variable Cost (AVC)

 

AVC = VC / Q

AVC = 958.78 / 7.83

AVC = 122.45

 

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Replies to This Discussion

ECO404+Assignment#1+Complete+Solutoin+Spring+2012

Attachments:

Answer No. 1

MR = MC = 240

Where as MR = MC = P / {1 + (1/E)}

 

                                    P = MC / {1 + (1/E)}

                                    P = 240 / {1+ (1/-2.5)}

                                    P = 240 / {1+ (-0.4)}

                                    P = 240/ 0.6

                                    P = 400

 

The optimum level of price that should be set to get the maximum level of higher profit is

400.

Answer No. 2

                       

TC   = 10 + 5Q + 15Q2       

                                    MC = dTC / dQ                            

                                    MC = 5 + 30Q                                   

                                     240 = 5 + 30Q

                                        Q = 7.83

Putting the value of Q in equation (2)

(A)

TC = 10 + 5Q + 15Q2

                                    TC = Fix Cost + Variable Cost

                                    VC = 5Q + 15Q2                 …………………… (2)

                                                VC = 5(7.83) + 15(7.83) 2

                                    VC = 958.78

Variable cost is 958.78

(B) Average Total Cost                                    

ATC = TC / Q

ATC = 10 / 7.83 + 5(7.83) / 7.83 + 15(7.83)2 / 7.83

ATC = 1.28 + 5 + 117.45

ATC = 123.73

 

 

 

 

 

 

(C) Average Variable Cost (AVC)

 

AVC = VC / Q

AVC = 958.78 / 7.83

AVC = 122.45

 

Thank u very much sir 

Dear sir Tariq Malik sb first of thanks a lot for helping us at the time of need. U are always first to help. we all pray for u and your group. sir your this web site is very heavy. system just lie down to run this web however, i could not thank u previously because i was unable to entre in your web or page. Any way thanks a lot good job done. kep it up. see u

see the attached file.

Attachments:

Muhammad Umair Sarwar

Student ID: mc110202009

MBA

Assignment No.1

Managerial Economics

Course Code: Eco404

________________________________________________________________________

 

Answer No. 1

MR = MC = 240

Where as MR = MC = P / {1 + (1/E)}

 

                                    P = MC / {1 + (1/E)}

                                    P = 240 / {1+ (1/-2.5)}

                                    P = 240 / {1+ (-0.4)}

                                    P = 240/ 0.6

                                    P = 400

 

The optimum level of price that should be set to get the maximum level of higher profit is

400.

Answer No. 2

                       

TC   = 10 + 5Q + 15Q2       

                                    MC = dTC / dQ                            

                                    MC = 5 + 30Q                                   

                                     240 = 5 + 30Q

                                        Q = 7.83

Putting the value of Q in equation (2)

(A)

TC = 10 + 5Q + 15Q2

                                    TC = Fix Cost + Variable Cost

                                    VC = 5Q + 15Q2                 …………………… (2)

                                                VC = 5(7.83) + 15(7.83) 2

                                    VC = 958.78

Variable cost is 958.78

(B) Average Total Cost                                    

ATC = TC / Q

ATC = 10 / 7.83 + 5(7.83) / 7.83 + 15(7.83)2 / 7.83

ATC = 1.28 + 5 + 117.45

ATC = 123.73

 

 

 

 

 

 

(C) Average Variable Cost (AVC)

 

AVC = VC / Q

AVC = 958.78 / 7.83

AVC = 122.45

 

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