The market price, quantity and total cost of a firm are given in the f – InterviewSolution

1.

The market price, quantity and total cost of a firm are given in the following table. Find out.QuantityPriceTotal cost0521014460237903311004261025221056191097161151. MR and MC 2. Equilibrium price and equilibrium quantity 3. TR, TC and Total profit at equilibrium

Answer»

1.

Quantity	Price	Total Cost	MC	TR	MR	Profit
0	52	10	.....	0	.....	.....
1	44	60	50	44	44	-16
2	37	90	30	74	30	-16
3	31	100	10	93	19	-7
4	26	102	2	104	11	2
5	22	105	3	110	6	5
6	19	109	4	114	4	5
7	16	115	6	112	-2	-3

2. Equilibrium price is Rs. 19 and quantity is 6.

3. At equilibrium

TR= 114

TC = 109

Total profit = 5

Discussion

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