Using EXCEL, complete the following question The total costs for Morris Industries are summarized in the following table Q FC VC TC AFC AVC ATC MC 0 1000 10 2000 20 2500 30 3800 40 6000 50 10,000 60 16,000 a Complete the table b Graphically illustrate the MC and price line c If the price of the pro...

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Using EXCEL, complete the following question: The total costs for Morris Industries are summarized in the following

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Using EXCEL, complete the following question:

The total costs for Morris Industries are summarized in the following table.

Q	FC	VC	TC	AFC	AVC	ATC	MC
0			1000
10			2000
20			2500
30			3800
40			6000
50			10,000
60			16,000

a. Complete the table.

b. Graphically illustrate the MC and price line.

c. If the price of the product is 300, what is the profit maximizing output level (illustrate on your graph)?

Related Book For answer-question

Managerial Economics and Business Strategy

ISBN: 978-0073523224

8th edition

Authors: Michael Baye, Jeff Prince

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Posted Date: Apr 18, 2024 03:41 AM

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Using EXCEL, complete the following question: The total costs for Morris Industries are summarized in the following

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Managerial Economics and Business Strategy

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