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.
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Table 1
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Output
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Average Fixed cost
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Average Variable Cost
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Average Total Cost
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Marginal Cost
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Price
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Total Revenue
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Marginal Revenue
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0
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$ 345.00
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1
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$ 180.00
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$ 135.00
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$ 315.00
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$ 300.00
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2
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$ 90.00
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$ 127.50
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$ 217.50
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$ 249.00
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3
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$ 60.00
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$ 120.00
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$ 180.00
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$ 213.00
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4
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$ 45.00
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$ 112.50
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$ 157.50
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$ 189.00
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5
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$ 36.00
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$ 111.00
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$ 147.00
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$ 165.00
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6
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$ 30.00
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$ 112.50
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$ 142.50
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$ 144.00
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7
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$ 25.71
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$ 115.70
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$ 141.41
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$ 126.00
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8
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$ 22.50
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$ 121.90
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$ 144.40
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$ 111.00
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9
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$ 20.00
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$ 130.00
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$ 150.00
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$ 99.00
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10
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$ 18.00
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$ 139.50
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$ 157.50
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$ 87.00
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Address the following:
- Complete Table-1. Summarize your calculations.
- Prepare a graph showing:
- Average Fixed Costs
- Average Variable Costs
- Average Total Costs
- Marginal Revenue
- Marginal Costs