Calculate total average costs for the bookstore. Illustrate the store's short-run equilibrium by plotting demand, marginal revenue, average total costs, and marginal costs. What is its total profit?

OUTPUT... PRICE PER BOOK ($) ....TOTAL COSTS ($)
0 ...............6.00 ............................2.00
1 ..............5.75 ........................... 5.25
2.............. 5.50 ........................... 7.50
3 ..............5.25 ...........................9.60
4 ..............5.00 ...........................12.10
5 ..............4.75 ........................... 15.80
6 ..............4.50 ........................... 20.00
7 ..............4.00 ........................... 24.75

Answer rating: 100% (QA)

Output 0 1 2 3 4 31 5 6 7 Price per book 600 575 550 525 500 ... View the full answer