the formula for AFC, AVC, ATC, MC, TR, MR
The market price faced by this firm is $6.00 per widget.
a. Fill in the formula for AFC, AVC, ATC, MC, TR, MR, and Total Profit
b. Fill in the missing values for TFC, TVC, AFC, AVC, ATC, MC, TR, MR,
Total Profit Output 0 10 20 30 40 50 60 70 80 90 100
Total Fixed Cost
Total Variable Cost
Total Cost $100 150 180 200 240 300 375 475 600 750 1,000
Average Fixed Cost
Average Variable Cost Average Total Cost
Marginal Cost
Total Revenue
Marginal Revenue
Total Profit
c. Determine the profit maximizing level of output. Explain how you arrived at that conclusion.