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28 Sep 2019
Gulp and Devour
Output
TR
TC
Profit
AC
Price
MR
MC
Marginal
Profit
1
135
100
35
100
135
135
100
35
2
260
200
60
100
130
125
100
25
3
375
300
75
100
125
115
100
5
4
480
400
80
100
120
105
100
5
5
575
500
75
100
115
95
100
-5
6
660
600
60
100
110
85
100
-15
7
735
700
35
100
105
75
100
-25
8
800
800
0
100
100
65
100
-35
Shady Enterprise
Output
TR
TC
Profit
AC
Price
MR
MC
Marginal
Profit
1
160
50
110
50
160
160
50
110
2
300
125
175
62.5
150
140
75
65
3
420
220
195
75
140
120
100
20
4
520
350
170
87.5
130
100
125
-25
5
600
500
100
100
120
80
150
-70
6
660
675
-15
112.5
110
60
175
-115
7
700
875
-175
125
100
40
200
-160
8
720
100
-380
137.5
90
20
225
-205
What is the profit-maximizing output for each case? Show that three criteria are equivalent: marginal cost equals marginal revenue, maximum profit, and marginal profit equals zero.
Gulp and Devour | ||||||||
Output | TR | TC | Profit | AC | Price | MR | MC | Marginal |
Profit | ||||||||
1 | 135 | 100 | 35 | 100 | 135 | 135 | 100 | 35 |
2 | 260 | 200 | 60 | 100 | 130 | 125 | 100 | 25 |
3 | 375 | 300 | 75 | 100 | 125 | 115 | 100 | 5 |
4 | 480 | 400 | 80 | 100 | 120 | 105 | 100 | 5 |
5 | 575 | 500 | 75 | 100 | 115 | 95 | 100 | -5 |
6 | 660 | 600 | 60 | 100 | 110 | 85 | 100 | -15 |
7 | 735 | 700 | 35 | 100 | 105 | 75 | 100 | -25 |
8 | 800 | 800 | 0 | 100 | 100 | 65 | 100 | -35 |
Shady Enterprise | ||||||||
Output | TR | TC | Profit | AC | Price | MR | MC | Marginal |
Profit | ||||||||
1 | 160 | 50 | 110 | 50 | 160 | 160 | 50 | 110 |
2 | 300 | 125 | 175 | 62.5 | 150 | 140 | 75 | 65 |
3 | 420 | 220 | 195 | 75 | 140 | 120 | 100 | 20 |
4 | 520 | 350 | 170 | 87.5 | 130 | 100 | 125 | -25 |
5 | 600 | 500 | 100 | 100 | 120 | 80 | 150 | -70 |
6 | 660 | 675 | -15 | 112.5 | 110 | 60 | 175 | -115 |
7 | 700 | 875 | -175 | 125 | 100 | 40 | 200 | -160 |
8 | 720 | 100 | -380 | 137.5 | 90 | 20 | 225 | -205 |
What is the profit-maximizing output for each case? Show that three criteria are equivalent: marginal cost equals marginal revenue, maximum profit, and marginal profit equals zero.
Chika IlonahLv10
28 Sep 2019