Bài tập về Kinh tế vĩ mô bằng tiếng Anh - Chương 8

Tham khảo tài liệu 'bài tập về kinh tế vĩ mô bằng tiếng anh - chương 8', kinh tế - quản lý, kinh tế học phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Chapter 8 Profit Maximization and Competitive Supply CHAPTER 8 PROFIT MAXIMIZATION AND COMPETITIVE SUPPLY EXERCISES 1. The data in the following table give information about the price in dollars for which a firm can sell a unit of output and the total cost of production. a. Fill in the blanks in the table. b. Show what happens to the firm s output choice and profit if the price of the product falls from 60 to 50. Q P TR TC n MC MR TR MR n P P P 60 P P P 50 60 60 50 50 0 60 100 1 60 150 2 60 178 3 60 198 4 60 212 5 60 230 6 60 250 7 60 272 8 60 310 9 60 355 10 60 410 11 60 475 The table below shows the firm s revenue and cost for the two prices. Q P TR TC n MC MR TR MR n P P P 60 P P P 50 60 60 50 50 0 60 0 100 -100 0 -100 1 60 60 150 -90 50 60 50 50 -100 2 60 120 178 -58 28 60 100 50 -78 3 60 180 198 -18 20 60 150 50 -48 4 60 240 212 28 14 60 200 50 -12 5 60 300 230 70 18 60 250 50 20 6 60 360 250 110 20 60 300 50 50 7 60 420 272 148 22 60 350 50 78 8 60 480 310 170 38 60 400 50 90 9 60 540 355 185 45 60 450 50 95 102 Chapter 8 Profit Maximization and Competitive Supply 10 60 600 410 190 55 60 500 50 90 11 60 660 475 185 65 60 550 50 75 At a price of 60 the firm should produce ten units of output to maximize profit because this is the point closest to where price equals marginal cost without having marginal cost exceed price. At a price of 50 the firm should produce nine units to maximize profit. When price falls from 60 to 50 profit falls from 190 to 95. 2. Using the data in the table show what happens to the firm s output choice and profit if the fixed cost of production increases from 100 to 150 and then to 200. Assume that the price of the output remains at 60 per unit. What general conclusion can you reach about the effects of fixed costs on the firm s output choice The table below shows the firm s revenue and cost information for fixed cost FC of 100 150 and 200. In all of the given cases with fixed cost equal to 100 then 150 and then 200 the firm will .