Levels Tought:
Elementary,Middle School,High School,College,University,PHD
Teaching Since: | May 2017 |
Last Sign in: | 304 Weeks Ago |
Questions Answered: | 66690 |
Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
The AAA Aquarium Co. sells aquariums for $20each. Fixed costs of production are $20. The totalvariable costs are $20 for one aquarium, $25 for twounits, $35 for the three units, $50 for four units, and$80 for five units. In the form of a table, calculate totalrevenue, marginal revenue, total cost, and marginal costfor each output level (one to five units). What is theprofit-maximizing quantity of output? On one diagram,sketch the total revenue and total cost curves. Onanother diagram, sketch the marginal revenue andmarginal cost curves
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