1. Consider total cost and total revenue given in the following table: Quantity 0 1 2 3 4 5 6 7… 1 answer below »


1. Consider sum absorb and sum return dedicated in the forthcoming table:


Quantity

0

1

2

3

4

5

6

7

Total Cost

$8

9

10

11

13

19

27

37

Total Revenue

$0

8

16

24

32

40

48

56


Calculate emolument for each size. How plenteous should the determined consequence to maximise emolument?

Calculate ultimate return and ultimate absorb for each size. Graph them. (Hint: Put the points among the sound disunite. For specimen, the ultimate absorb among 2 and 3 should be graphed at 2.50.) At what size do these curves cantankerous? How does this describe to your solution to disunite (a)?

Can you promulgate whether this determined is in a competitive activity? If so, can you promulgate whether the activity is in a crave tidings equilibrium?