ECO 405 Lecture 2: Chapter 2
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An online software producer has fixed costs of $40,000 per month and her Total Variable Costs (TVC) as a function of output Q are given below. Complete the table (TC, MC, TR, and MR).
Quantity | TVC | Price |
10,000 | $15,000 | $5 |
20,000 | $20,000 | $4 |
30,000 | $30,000 | $3 |
40,000 | $50,000 | $2 |
50,000 | $80,000 | $1 |
What should be the output at the profit maximization level?
How much should the firm produce if fixed cost increased to $60000?