Try another version of these questions The table below shows data for the production of apples for an individual firm operating in a perfectly competitive market. Given this data, complete the table:
Hint
Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 2: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 3: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 4: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 5: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 6: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 7: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 8: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 9: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 10: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 11: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 12: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 13: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 14: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 15: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 16: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 17: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 18: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 19: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 20: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 21: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 22: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 23: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 24: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 Box 25: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 At what quantity does this firm maximize its profit? NOTE: If there are two quantities with the same level of profits, pick the larger of the two quantities! Hint
Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 What is marginal revenue at the profit maximizing quantity? NOTE: If there are two quantities with the same level of profits, pick the larger of the two quantities! Hint
Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172 What is marginal cost at the profit maximizing quantity? NOTE: If there are two quantities with the same level of profits, pick the larger of the two quantities! Hint
Box 1: Enter your answer as an integer or decimal number. Examples: 3, -4, 5.5172Quantity of apples Total Revenue Total Costs 0 0 10 10 40 30 20 80 40 30 120 60 40 160 90 50 200 130 60 240 180 70 280 240 80 320 310
Quantity of apples
Marginal Revenue (MR)
Marginal Costs (MC)
Profit
0
-
-
10
20
30
40
50
60
70
80
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Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity
Enter DNE for Does Not Exist, oo for Infinity