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Author Question: The following table shows costs and revenue schedules for a firm.Quantity (units)AC ()MC ()AR ()MR ... (Read 55 times)

09madisonrousseau09

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on: May 25, 2020

Question 1

A firm will maximise its profit if it produces and sells the level of output where
◦ marginal revenue equals marginal cost.
◦ average revenue equals marginal revenue.
◦ average revenue equals average cost.
◦ marginal revenue equals average cost.

Question 2

The following table shows costs and revenue schedules for a firm.

Quantity (units)AC (£)MC (£)AR (£)MR (£)
1003.203.003.003.00
2002.802.803.003.00
3002.843.003.003.00
4003.003.603.003.00
5004.006.003.003.00
6006.009.003.003.00
At what output will the firm maximise profit?
◦ 400
◦ 600
◦ 200
◦ 300
Essential Economics for Business ¦ Sloman, Jones ¦ 5th Edition
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Marked as best answer by 09madisonrousseau09 on May 25, 2020

Alyson.hiatt@yahoo.com

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Reply #1 on: May 25, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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09madisonrousseau09

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Reply 2 on: May 25, 2020
Great answer, keep it coming :)

jamesnevil303

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Reply 3 on: Yesterday
Excellent

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