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Category > Accounting Posted 20 Jun 2017 My Price 7.00

A firm sells a product in a perfectly competitive market, at a price of $50

A firm sells a product in a perfectly competitive market, at a price of $50. The firm has a fixed cost of $30. Fill in the following table and indicate the level of output that maximizes profit. How would the profit-maximizing choice of output change if the fixed cost increased from $40 to $60? More generally, explain how the level of fixed cost affects the choice of output.

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Alpha Geek
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Status NEW Posted 20 Jun 2017 07:06 AM My Price 7.00

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Attachments

file 1497943431-1910020_1_636328857203243723_maximize-profit 1.xlsx preview (144 words )
19-----------100-----------20&-----------amp-----------;am-----------p;i-----------nfo-----------Id=-----------513-----------358-----------Max-----------imi-----------ze -----------Pro-----------fit-----------A f-----------irm----------- se-----------lls----------- a -----------pro-----------duc-----------t i-----------n a----------- pe-----------rfe-----------ctl-----------y c-----------omp-----------eti-----------tiv-----------e m-----------ark-----------et,----------- at----------- a -----------pri-----------ce -----------of -----------$50-----------. T-----------he -----------fir-----------m h-----------as -----------a f-----------ixe-----------d c-----------ost----------- of----------- $3-----------0. -----------Pri-----------ce -----------per----------- un-----------it$-----------Fix-----------ed -----------cos-----------tFi-----------ll -----------in -----------the----------- fo-----------llo-----------win-----------g t-----------abl-----------e a-----------nd -----------ind-----------ica-----------te -----------the----------- le-----------vel----------- of----------- ou-----------tpu-----------t t-----------hat----------- ma-----------xim-----------ize-----------s p-----------rof-----------it.-----------Out-----------put-----------Tot-----------al -----------Rev-----------enu-----------eTo-----------tal----------- Co-----------stp-----------rof-----------itM-----------arg-----------ina-----------l R-----------eve-----------nue-----------Mar-----------gin-----------al -----------cos-----------tUn-----------its-----------$ p-----------er -----------uni-----------t($----------- pe-----------r u-----------nit-----------)Ma-----------x P-----------rof-----------itS-----------o P-----------rof-----------it -----------is -----------max-----------imu-----------m a-----------t o-----------utp-----------ut -----------lev-----------el -----------of -----------4 u-----------nit-----------s w-----------her-----------e t-----------he -----------pro-----------fit-----------
file 1497943441-1910020_2_636335172024369219_maximize-profit-Rev.xlsx preview (169 words )
19-----------100-----------20&-----------amp-----------;am-----------p;i-----------nfo-----------Id=-----------513-----------358-----------Max-----------imi-----------ze -----------Pro-----------fit-----------A f-----------irm----------- se-----------lls----------- a -----------pro-----------duc-----------t i-----------n a----------- pe-----------rfe-----------ctl-----------y c-----------omp-----------eti-----------tiv-----------e m-----------ark-----------et,----------- at----------- a -----------pri-----------ce -----------of -----------$50-----------. T-----------he -----------fir-----------m h-----------as -----------a f-----------ixe-----------d c-----------ost----------- of----------- $3-----------0. -----------Pri-----------ce -----------per----------- un-----------it$-----------Fix-----------ed -----------cos-----------tFi-----------ll -----------in -----------the----------- fo-----------llo-----------win-----------g t-----------abl-----------e a-----------nd -----------ind-----------ica-----------te -----------the----------- le-----------vel----------- of----------- ou-----------tpu-----------t t-----------hat----------- ma-----------xim-----------ize-----------s p-----------rof-----------it.-----------Out-----------put-----------Tot-----------al -----------Rev-----------enu-----------eTo-----------tal----------- Co-----------stp-----------rof-----------itM-----------arg-----------ina-----------l R-----------eve-----------nue-----------Mar-----------gin-----------al -----------cos-----------tUn-----------its-----------$ p-----------er -----------uni-----------t($----------- pe-----------r u-----------nit-----------)Ma-----------x P-----------rof-----------itS-----------o P-----------rof-----------it -----------is -----------max-----------imu-----------m a-----------t o-----------utp-----------ut -----------lev-----------el -----------of -----------4 u-----------nit-----------s w-----------her-----------e t-----------he -----------pro-----------fit-----------
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