Using the data in the following table to:
masauda2020
Homework3.pdf
Homework#3
Question 1:
Using the data in the following table to:
1. Determine the type of the market (whether it is
perfect competitive market or monopoly? and why?
2. Calculate MR, AR, MC, ATC.
3. Using marginal method, determine the producer
equilibrium (the output and dollar amount at which
the firm maximizes total profit).
4. Show your work on a graph to determine whether the
firm makes profit (normal profit, super normal profit,
or break even) or loss. Q P TR TC MR AR MC ATC Profit
or
loss
per
unit
0 4 0 65
10 4 40 100
20 4 80 130
30 4 120 150
40 4 160 160
50 4 200 170
60 4 240 185
70 4 260 210
80 4 280 250
90 4 300 360
