week 4 project Claire

 Market Forms
The following questions address some of the price and output decisions faced by firms other than those found in perfect competition. Some numbers may be rounded.
Table 1-a
Average Fixed cost
Average Variable Cost
Average Total Cost
Output
0
1
 $   180.00
 $ 135.00
 $    315.00
2
 $     90.00
 $ 127.50
 $    217.50
3
 $     60.00
 $ 120.00
 $    180.00
4
 $     45.00
 $ 112.50
 $    157.50
5
 $     36.00
 $ 111.00
 $    147.00
6
 $     30.00
 $ 112.50
 $    142.50
7
 $     25.71
 $ 115.70
 $    141.41
8
 $     22.50
 $ 121.90
 $    144.40
9
 $     20.00
 $ 130.00
 $    150.00
10
 $     18.00
 $ 139.50
 $    157.50
Table 1-a (continued)
Marginal Cost
Price
Total Revenue
Marginal Revenue
Output
0
 $ 345.00
1
 $ 300.00
2
 $ 249.00
3
 $ 213.00
4
 $ 189.00
5
 $ 165.00
6
 $ 144.00
7
 $ 126.00
8
 $ 111.00
9
 $   99.00
10
 $   87.00
Questions:

Complete Table 1. Summarize your calculations and use Microsoft Excel.
Using Excel, draw one graph showing average fixed costs, average variable costs, average total costs, marginal revenue, and marginal costs.
Using the data in the table and on your graph, what is the profit maximizing, or loss minimizing level of output?  Explain and justify your answers.
What is a normal profit?  What is an economic profit? Explain your answer using examples. Are normal profits being earned in this example? Are economic profits present for this firm in this example?  Explain your answers.
Given the data in the table and the graph, how could you determine or identify the optimal plant size?
What is the difference between explicit and implicit cost?  Explain your answers.
 How would we determine if a cost is a fixed cost or a variable cost?

Don't use plagiarized sources. Get Your Custom Essay on
week 4 project Claire
Just from $13/Page
Order Essay

Present your analysis in Microsoft Excel format. Enter non-numerical responses in the same worksheet using textboxes. If you want to learn how to use Microsoft Excel to create curves, refer to the Microsoft Excel tutorials.
Submit your documents to the Submissions Area by the due date assigned.

Place your order
(550 words)

Approximate price: $22

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more

Order your essay today and save 15% with the discount code MATTERS