Market Forms

Apr 24th, 2015
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Market Forms 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. Table 1 Output Average Fixed cost Average Variable Cost Average Total Cost Marginal Cost Price Total Revenue Marginal Revenue 0 $ 345.00 1 $ 180.00 $ 135.00 $ 315.00 $ 300.00 2 $ 90.00 $ 127.50 $ 217.50 $ 249.00 3 $ 60.00 $ 120.00 $ 180.00 $ 213.00 4 $ 45.00 $ 112.50 $ 157.50 $ 189.00 5 $ 36.00 $ 111.00 $ 147.00 $ 165.00 6 $ 30.00 $ 112.50 $ 142.50 $ 144.00 7 $ 25.71 $ 115.70 $ 141.41 $ 126.00 8 $ 22.50 $ 121.90 $ 144.40 $ 111.00 9 $ 20.00 $ 130.00 $ 150.00 $ 99.00 10 $ 18.00 $ 139.50 $ 157.50 $ 87.00 Address the following: Complete Table-1. Summarize your calculations. Prepare a chart showing: Average Fixed C

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Market Formations:Name:Lecturer:Institution:Date:Table SummaryTable 1OutputAverage Fixed costAverage Variable CostAverage Total CostMarginal CostPriceTotal RevenueMarginal Revenue0$345.00 $0.00 1$180.00 $135.00 $315.00 315$300.00 $300.00 3002$90.00 $127.50 $217.50 -97.5$249.00 $498.00 1983$60.00 $120.00 $180.00 -37.5$213.00 $639.00 1414$45.00 $112.50 $157.50 -22.5$189.00 $756.00 1175$36.00 $111.00 $147.00 -10.5$165.00 $825.00 696$30.00 $112.50 $142.50 -4.5$144.00 $864.00 397$25.71 $115.70 $141.41 -1.09$126.00 $882.00 188$22.50 $121.90 $144.40 2.99$111.00 $888.00 69$20.00 $130.00 $150.00 5.6$99.00 $891.00 310$18.00 $139.50 $157.50 7.5$87.00 $870.00 -21Analysis ChartProfit maximizing, orloss minimizing level of outputProfit maximization and loss minimization level of output is determined at the point where marginal revenue is equal to the marginal cost (Taylor, 2009). Consequently, from the graph above, the output at which the firm will attain maximum profit is point where the marginal cost and marginal are equal to $300 while the loss minimization

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