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GZA09

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**Micro econ MR MC AC etc help!**

## Homework Statement

The adjacent graph (I've attached it) shows the short-run cost situation of a competitive, profit-maximizing firm. Assume that MC is plotted between units. Determine for each of the following prices: i) $150 ii) $200 iii) $230 iv) $350

a) equilibrium output

b) marginal revenue

c) marginal cost

d) average cost

e) profit per unit

f) total revenue

g) total cost

## Homework Equations

These were what i could find in my notes that are related but they don't seem to help :/

Total cost = variable cost + fixed cost

Average cost = total cost / q

## The Attempt at a Solution

Well by looking at the graph i was able to find out the equillibrium outputs, and using a rule that states that Price = Marignal cost and price = marginal revenue, i found those two.

Price:---------150-------200------230------350

Equill Output:--15--------17-------18-------21

Marginal R:----150-------200------230------350

Marignal C:----150-------200------230------350

Average C:

Profit/unit:

Total R:

Total cost:

Total profit:Thank you :/ i have an exam in 2 days and I am totally stumped on this :(