Microeconomics Question

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&nbsp;Hi, can someone please help me with the following questions? Each unit of input, X, costs $10.&nbsp; Fixed costs are $50, regardless of the level of output. &nbsp;a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Complete the table below. &nbsp; &nbsp; &nbsp; Labor, X &nbsp; Total Output (TPP) Marginal Physical Product (MPP) &nbsp; &nbsp; &nbsp; TFC &nbsp; &nbsp; &nbsp; TVC &nbsp; &nbsp; &nbsp; TC &nbsp; &nbsp; &nbsp; AFC &nbsp; &nbsp; &nbsp; AVC &nbsp; &nbsp; &nbsp; ATC &nbsp; &nbsp; &nbsp; MC/unit 0 0 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 1 15 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 2 45 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 3 70 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 4 90 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 5 105 &nbsp; &nbsp; &nbsp; &nbsp; <s

dabbamanche · Sep 27, 2011 8:09 AM · 12,227 views

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Sorry, this is the full table: Labor, X TPP MPP TFC TVC TC AFC AVC ATC MC/unit 0 0 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 1 15 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 2 45 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 3 70 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 4 90 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 5 105 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; 6 <p class="MsoNorm

dabbamanche · Sep 27, 2011 8:20 AM

&nbsp;and the two related questions: b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If the product can be sold for $0.75 per unit, what is the optimal level of output? &nbsp; c.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Find the level of profit at the optimal level of output.&nbsp; Explain what would happen if the firm produced one more unit of output in terms of marginal cost and marginal revenue. Appreciate all the help I can get, along with the explanations for b and c. &nbsp;Thanks!

dabbamanche · Sep 27, 2011 8:22 AM

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